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10 sats \ 2 replies \ @alt 20 Nov \ on: From Dollars to Sats: A Shift in Mindset? bitcoin
Now? I'd charge based on fiat value. Fiat is still the unit of account, and the most common medium of exchange. Pricing in fiat will help people understand how much they are paying.
Also on the short term, fiat is relatively stable compared to Bitcoin. Of course on the long term fiat trends to zero but it doesn't go up or down several percent a day (yet). Pricing in sats would necessitate recalculating prices more frequently.
Actually the stability factor is a relative phenomenon right? For example if we take fiat out of the equation altogether, satoshis as a stand-alone currency wouldn't fluctuate (because we don't compare it with anything else) but increase in value steadily as Bitcoin is a deflationary asset. Value of Sats would then be determined by the market participants within the economy. Some kind of standardization will be a game changer. Moreover USD has been losing its value in the long-term to Bitcoin. I would not mind ditching fiat if I can pay in Bitcoin everywhere.
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In the long term yes, but short term it doesn't matter what you price bitcoin in, whether it's USD, houses, cars, eggs, or milk. The day-to-day volatility is still there and would make price calculation difficult even without the USD.
On the long term this problem goes away and then we can price things in BTC, but today it would probably cause as many problems as it solves.
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