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30 sats \ 2 replies \ @daolin 21h \ parent \ on: Saying 1 btc = 1 btc when fiat price goes down is stupidity/cope bitcoin
There's no mental conversion to dollars necessary. If someone tells me they own half a Bitcoin, I can think, "Wow, that's pretty good. Financially, they're set up for a good life." That is Bitcoin functioning as a unit of account. We don't need to run the conversion to USD. We're probably better off converting the grocery store prices to sats so that we can understand what we're actually giving up, because the ~$111k price of today really doesn't illustrate the value of a whole Bitcoin.
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I see where you're coming from, but ultimately, the $111k USD fiat price of a bitcoin today (or the equivalent number of cars/houses/groceries one can buy, if they don't like thinking about fiat) is the value of a bitcoin.
I also believe that a bitcoin will be worth more than $111k in the future, which is why I still hold sats that I purchased for less than $7k today, but that is just my belief. It is not predestined, it doesn't come with a definitive timeline, and I can't exchange my bitcoin today for a home that is worth $500k even if I believe that is what a bitcoin is worth in my mind. That is just not reality today.
In that vain, while a half bitcoin is a lot, it is worth exactly $55k USD of purchasing power today. No more, and no less. That is not a very large net worth, but I hope for the person in your theoretical example (and selfishly for myself) that the half bitcoin ultimately becomes worth a lot lot more.
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