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10 sats \ 5 replies \ @nerd2ninja 27 Sep 2023 \ on: If we stop thinking in Fiat, what does even bull-run mean? 📈 bitcoin
It means everything is getting crazy cheap all of a sudden at unsustainable rates and we should expect a return to normal later on where prices aren't back where they were, still cheaper than before, but not as cheap as the discount mania
Quite interesting take, so cheap and expensive depends on fiat to BTC conversion. Does it mean that bitcoin will always need fiat to determine its value ?
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What? No. Who said anything about FIAT? I said everything gets cheaper. Everything you're trying to buy. If you're selling things and suddenly people are saying your stuff is too expensive compared to the other merchants, you gotta lower your prices to stay competitive right?
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I still can't wrap my brain around this. How would things will get cheaper?
If I understood correctly, then it would be because similar amt. of BTC is suddenly more valuable as compared to (when converted to) FIAT.
Please correct me if I am misunderstood.
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Okay, to start, Bitcoin is your money. Bitcoin is your reference point. So these prices:
Those lines would drop down dramatically all at once. Yes, that means that Bitcoin is more valuable, the same way that when prices all rise at the same time against FIAT, that this means FIAT is getting less valuable.
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ahhhh, I got it now. Thanks for making it easier for me.
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