No they don't. It's called "exchanging". Just like you exchange Euros and Dollars - nobody says they bought some Euros. At least nobody who knows what these words mean. They changed/swapped Dollars for Euros
Do you earn or mine it? Never bought some?
Nope, never. Only currency swapped or exchanged shitty currency (fiat) for good currency (Bitcoin)
What is the definition of a price for you then?
The word "price" is the quantification of goods and services.
What do you call this number that a lot of people are waiting to hit 100k?
It's called "exchange rate". Something like "spot rate" might be okay too if you insist.
If we say we exchanged or swapped something, we obviously would say "exchange rate". If we say we bought or sold something, we obviously would say "price".
However, I would say property is missing in your definition:
The word "price" is the quantification of goods and services.
Since I assume you wouldn't say that people exchange dollars for houses, but they buy or rent property which means they have a price.
Now I could go into if bitcoin is property (and money at the same time) and that there are other, less convenient definitions for price but your arguments do make sense so thanks for replying.
So only if from your personal perspective where you can buy goods and services with bitcoin in your own world will Bitcoin be money? What of the people who are living a bitcoin standard already? What of the people who have started to bank themselves with bitcoin because there no other options?
I am but a young girl, unschooled in the ways of war, but I'd wager most people who live on a bitcoin standard or use it to pay for their daily life, sell btc for fiat in some way before purchasing the goods/services they need. Price matters.
Over a long time period there is a relation. In 2011 there were online fountains giving away 0.25 BTC for clicking a button, those disappeared once we broke the $1-$3 range.
If SN had existed then do you think we would be happy sending/receiving 100-1000 sat zaps? It would've been 100x that.
Likewise, in 4 years when BTC breaks 1M, people will not be giving 1000 sat zaps ($10)
https://m.stacker.news/19918
can’t argue with that logic
because one does not even know where to start
🫶
Yep that's my setting too
Preach 👏
https://m.stacker.news/19978
There is no such thing as "BTC price". Doesn't exist.
So people don't buy bitcoin? And don't sell it? Do you earn or mine it? Never bought some?
What is the definition of a price for you then? What do you call this number that a lot of people are waiting to hit 100k?
Please elaborate because I clearly don't get what you mean.
No they don't. It's called "exchanging". Just like you exchange Euros and Dollars - nobody says they bought some Euros. At least nobody who knows what these words mean. They changed/swapped Dollars for Euros
Nope, never. Only currency swapped or exchanged shitty currency (fiat) for good currency (Bitcoin)
The word "price" is the quantification of goods and services.
It's called "exchange rate". Something like "spot rate" might be okay too if you insist.
Okay, I see, makes sense.
If we say we exchanged or swapped something, we obviously would say "exchange rate". If we say we bought or sold something, we obviously would say "price".
However, I would say property is missing in your definition:
Since I assume you wouldn't say that people exchange dollars for houses, but they buy or rent property which means they have a price.
Now I could go into if bitcoin is property (and money at the same time) and that there are other, less convenient definitions for price but your arguments do make sense so thanks for replying.
I hear you, but until I can more easily buy my food, rent, energy with sats: it has a price.
So only if from your personal perspective where you can buy goods and services with bitcoin in your own world will Bitcoin be money? What of the people who are living a bitcoin standard already? What of the people who have started to bank themselves with bitcoin because there no other options?
Bitcoin has no price.
I am but a young girl, unschooled in the ways of war, but I'd wager most people who live on a bitcoin standard or use it to pay for their daily life, sell btc for fiat in some way before purchasing the goods/services they need. Price matters.
im helping build this in Thailand with a few others
So far you can buy food, drinks, weed and accommodation.
I'm curious how other stackers will answer. For me there's no relationship between the two.
Over a long time period there is a relation. In 2011 there were online fountains giving away 0.25 BTC for clicking a button, those disappeared once we broke the $1-$3 range.
If SN had existed then do you think we would be happy sending/receiving 100-1000 sat zaps? It would've been 100x that.
Likewise, in 4 years when BTC breaks 1M, people will not be giving 1000 sat zaps ($10)
This answer makes sense to me. Obviously no one, no matter how much they believe 1 sat = 1 sat, is paying 10k bitcoin for a pizza anymore.
I agree that it will evolve over time, but the rewards system of the site determines what an optimal zap is more than the fiat exchange rate.
Keep in mind too that quality might improve, such that the zapping amounts don't seem quite so unrealistic.
fair point.
my zap is still the same, nothing's going to change
We're just getting started here!
I'd like to see some SN writers making a living off zaps next decade
Im not a big Zapper here but yeah theres a thought to not zap since the price go higher and even break ATH many times
1 BTC always equals 1 BTC 😜
https://m.stacker.news/19917
Prices of everything are falling.
https://www.pricedinbitcoin21.com/landing
I don't see why prices of quality posting shouldn't follow.
Zap amount goes down because of a radical concept of "purchasing power".
Zap amount depends only on quality of posts.
It represents Proof Of Work, dollars' days are numbered
Good post 😘
i think im one of the 3 people that even zaps,period, on nostr 😮💨
Stays the same... 1 BTC = 1 BTC