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0 sats \ 2 replies \ @CliffBadger 11h \ parent \ on: Saying 1 btc = 1 btc when fiat price goes down is stupidity/cope bitcoin
It's the vendor's standard unit of account. Someone else has to agree to sell a certain amount of Bitcoin in order for the transaction to occur.
Its not only the vendor's standard unit of account. You (the buyer) also has to adhere to that standard unit of account by converting whatever asset you want into the standard unit of account in order to complete the transaction.
Every bitcoiner (except a couple in el zonte or bitcoin jungle?) conforms to the fiat currency standard of account for their geography when they want to make a purchase.
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Only if the buyer agrees to the purchase. Other than that, all his financial planning revolves around BTC, and that's what informs his decision-making about what to buy and when.
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