Bitcoin’s utility as a unit of account **today** depends on what you already believe about Bitcoin.
There is **no objective unit of value** that is measured with a unit of account.
It is all a matter of perspective, and relative value - how valuable is **this unit** relative to the unit of account.
Someone still lost in the dollar world looks at Bitcoin and sees wild and extreme volatility, whereas someone in Bitcoin looking back at the dollar sees a crash and subsequent bleed/stagnation.
-- an excerpt from the 1-minute version of Bitcoin is the Best Unit of Account (2014) https://www.2minutebitcoin.org/blog/bitcoin-is-the-best-unit-of-account
2minutebitcoin
npub1p6…9ej3v
2023-05-13 09:17:19
Author Public Key
npub1p63d4vekvuql9zltpp4dezzfk2xxfgjsfqyglf4ju4syalekn4csn9ej3vPublished at
2023-05-13 09:17:19Event JSON
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"pubkey": "0ea2dab3366701f28beb086adc8849b28c64a25048088fa6b2e5604eff369d71",
"created_at": 1683962239,
"kind": 1,
"tags": [],
"content": "Bitcoin’s utility as a unit of account **today** depends on what you already believe about Bitcoin.\n\nThere is **no objective unit of value** that is measured with a unit of account.\n\nIt is all a matter of perspective, and relative value - how valuable is **this unit** relative to the unit of account.\n\nSomeone still lost in the dollar world looks at Bitcoin and sees wild and extreme volatility, whereas someone in Bitcoin looking back at the dollar sees a crash and subsequent bleed/stagnation.\n\n-- an excerpt from the 1-minute version of Bitcoin is the Best Unit of Account (2014) https://www.2minutebitcoin.org/blog/bitcoin-is-the-best-unit-of-account",
"sig": "fcdf9890df9d08886ae8b69a5832973f00f57270a4fb36e7e84884a095667a8ac4d6766dbb853c1298e8b8d1552c91047d4b318531a06c2777e91a5d57d953f3"
}