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100 sats \ 1 reply \ @Scoresby 23h \ parent \ on: Treasure Of the Sierra Madre proof of work quote bitcoin
This may be a good way of putting it.
We never left the "age of barter" -- we just started bartering different things (mostly monies).
Maybe the problem of prices is that they pretend that one half of the trade is exempt from the effects of the trade. But the reality is that both the thing being priced and what it is being priced in are dynamic.
I think that this is the reality of my personal "bitcoin standard" at this time in history (as I'd guess it is for most among us that have one.) I'm not seeing a path where everyone has this standard, so I expect this to be the status quo for the rest of my life. I don't mind living with it, despite that this view mostly has helped grifters/shitcoiners. Heck, there are days that I feel like more than half of the Bitcoin space is made up of NgU-only fiat maxis.
However, the problem with this approach is that it makes contracts hard. The final milestone payment of a BTC-denominated contract I delivered my end for is still not honored, now coming up on a year (#1014572).
This leads me to think that, if we want Bitcoin as MoE (and be able to have contracts denominated in it) then we should not treat trade against sats as barter?
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