710 sats \ 2 replies \ @DarthCoin 22 Mar \ on: Reflections from the Nakamoto Simulator bitcoin
I stopped considering Bitcoin an "asset". That is fiat mindset. And if we want to get rid of fiat, we should stop thinking like that. Always going back and price BTC in fiat is making things worse.
Bitcoin must be considered simply money. Money that can store energy, for future use.
What people do every day, every minute? People are always in a continuous run for gathering energy, in many different forms: to eat, to store, to trade, to use it as money, to use it as savings. People depend 100% of energy. People are spending also large amounts of resources just for STORING energy.
We should start pricing stuff in sats. Products and services priced in sats. How?
  1. Let the free market decide the price in sats of things.
  2. Simply like this:
  • calculate how much you spend daily/weekly/monthly to live your simply life.
  • divide that into hours, to obtain how much you spend per hour, in sats
  • then calculate how much will take for you to PRODUCE something (it doesn't matter what is it, an item, a service, a poem, a crafted thing etc)
  • then multiply that time with the sats you are spending per hour.
  • then add a 25-30% on top of that amount.
This is your price to sell that item for sats. So nothing is representing the BTC price in fiat. Let's forget about fiat. Concentrate in how many sats are you saving every day. Projecting the BTC price in fiat in x years is meaningless.
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21 sats \ 1 reply \ @Undisciplined OP 22 Mar
I consider Bitcoin to be money and money to be an asset. I take your point, but I don't think it matters much if we use those words slightly differently.
This exercise is about purchasing power, so I could have done it in terms of current Bitcoin value. The simulator provides both values. Maybe it would have been better to say that the model implies Bitcoin's purchasing power "should be" 15x what it currently is.
What I'm trying to figure out (as much for myself as for anyone else) is how should I be treating this thing. How much can I expect the sats I'm saving to buy when I need them in the future? How hard should I work for a given amount of sats?
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0 sats \ 0 replies \ @DarthCoin 22 Mar
This meme explain it very simple
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