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I have been thinking a lot about unit of account lately. I have lived in the US my whole life, so measuring everything in dollars is second nature. I wonder about people in other countries. Do they also use the USD price to calculate bitcoin in their head, or do they watch it in local currency to measure buying power?
Most people I know do it in their local currency.
Personally I try to use sats as a unit of account for myself, but it doesn't work so well with high volatility, because I just set an approximate exchange rate in my head, instead of first going to dollars. Right now shit is expensive vs 2 months ago, when it was cheap - in my head.
The only thing Fink had to deliver on was "we'll tame this thing" and that's what they thus far failed to.
Exactly. You know, it is hard to wrap your head around the significance of your statement when you first get into bitcoin. Even guys who have been around a while have trouble.