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64 sats \ 4 replies \ @freetx 25 Mar \ on: Breaking out of the fiat mindset bitcoin
Any "savings" is ultimately meant to be exchanged for goods and services. I fully understand the "1 sat = 1 sat" talking point, but its sort of a meaningless statement. Currencies are exchangeable to each other + goods + services.
Maybe "3000 sat" is a cup of coffee, but it can also be exchanged for "$2.10 USD"
I think the "breaking out of fiat mindset" is really more concerned with "stop thinking that you are going to cash out". You should never "cash out" (thats like saying you want to have 0 savings). Instead you should just "buy things" with your BTC as you need them....exactly as you do with any savings.
I think the point is that purchasing power is better measured through the price of stuff in sats than the exchange rate between USD and Bitcoin.
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I think your point is that there's an extra step here of converting through some fiat price, which makes this a little bit cumbersome.
I still think the point is to understand how many sats things cost. Some people use the fiat exchange rate to do that.
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This.
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