Wouldn't it be nice if crypto could be a unit-of-account!
But we can't because it isn't stable (yet).
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Wouldn't it be nice if crypto could be a unit-of-account!
But we can't because it isn't stable (yet).
In the end, it will likely be the USD since that is now a measurement more than a currency. Even HBD has no currency involved in it.
The amount of currency not in the financial is mind blowing.
Ser, elaborate pls
If the price of Bitcoin can easily go 10x or lose 90% in any given year then it becomes impossible to use it as a measurement for value. Imagine if you had a ruler that kept changing the definition of what a foot or meter was. That ruler would be worthless. You'd never be able to build a product using those measurements.
The same is true for an unstable currency: it can't be used as a measurement and therefore becomes a worthless unit of account. This is why most of the world values USD so much: it is the most stable currency available to them by exponential margins.
Thanks fren that makes sense. I wasnt familiar with the term unit-of-account
Oh really I thought everyone around here knew :D
I'm always blogging about UoA/MoE/SoV
Hahah yea I'm just dumb sometimes
Thanks bro!
Which will never happen. The only one people are thinking about it Satoshi but it is capped, hence will always have volatility.