Afhunter1
WKR
To the latter point, of course not. But give me its value NOT relative to a currency. And likewise, what is bitcoins value NOT relative to a currency? If you tied it to a commodity (pizzas or platinum), what is the value of the commodity NOT relative to a currency?
if i said, "I'll trade you your bitcoin for my 93 toyota." the first thing you'd do is laugh then say "My bitcoin it worth 100k:, your toyota is worth 1K". If I said, "Ill trade you your bitcoin for a fully loaded F350 with a 25' travel trailer, etc." You might say, "OK."This is what i mean when i say we inherently agree on the value of a dollar - we may not agree on how many dollars an item is worth (be it a coke or a car), but we see things in terms of dollars due to a shared understanding of its value in a market. When we agree that an item's cost is equal to it's value, we make a sale. Any conversation of bitcoin value is immediately related to dollars (or whatever currency). I am trying to understand how the value of bitcoin could ever be established outside of using a live currency as its comparison, and be unaffected by it - as I sometimes hear people say. Or conversely that bitcoin replaces the very thing that gives its value on a market.
How bout an example:
Let’s say you live in Russia and you’re ready to get the hell out before shit gets western. So you sell all your family’s financial instruments and jump on Coinbase and turn it all into bitcoin. You transfer it to your cold wallet and jump on a train to go “visit” grandma in Poland. You got all your family’s cash in your pocket, prison wallet, or whatever. When you get there you hop on Coinbase and sell some of your bitcoin for euros or whatever and buy a house. The lay person has never had this much financial freedom and/or political freedom. Will be amazing what people do with this power when it becomes mainstream and no govt can take it away from you.
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