You may be aware that Chinese measure the Yuan against a basket of currencies. So why can't we measure bitcoin in the same way? Surely someone could programme an international digital basket measure and put it in a DAO. Speaking of such organisational baskets, soon the Yaun will be entering the IMF's global currencies basket club. China will be entering the group of currencies required to be held and part of the measure for rating the value of the elusive international currency we all forget about called the SDR. The international monetary fund, IMF for short, have been talking about bitcoin too, even holding informative conferences. It makes you think, could one day Bitcoin join the IMF basket club?
International currencies are becoming more and more volatile. Right now a bitcoin is worth around $950 NZD or $677USD. In 2014 that comparison was more like $770 to $670. these are significant differences, so why do we continue to compare the price of our crypto currencies against them. Our local currencies like the USD the Yuan the GBP the EURO or the NZD hold great meaning to us in our day to day lives, but when thinking on an international level, as is the inclination with crypto-currencies, this makes less sense. We don't like the implications of things line the petro dollar. and we want to function as good global citizens. When global currencies are moving so much it might be best, as an international society, to compare bitcoin price against a basket of currencies.
If we measure bitcoin to a basket of currencies we find it appears less volatile. The same is true for the Yuan and there for bitcoin comparison to the yuan, can in some ways be more valid. But better than that, until the DAO is established, why not measure Bitcoin value against the SDR? Because the SDR is already based on a basket of currencies it should be very stable.
So after locating the SDR price in USD and that give us a bitcoin worth 481 SDR. Tell Mike that the heart is still beating!
International currencies are becoming more and more volatile. Right now a bitcoin is worth around $950 NZD or $677USD. In 2014 that comparison was more like $770 to $670. these are significant differences, so why do we continue to compare the price of our crypto currencies against them. Our local currencies like the USD the Yuan the GBP the EURO or the NZD hold great meaning to us in our day to day lives, but when thinking on an international level, as is the inclination with crypto-currencies, this makes less sense. We don't like the implications of things line the petro dollar. and we want to function as good global citizens. When global currencies are moving so much it might be best, as an international society, to compare bitcoin price against a basket of currencies.
If we measure bitcoin to a basket of currencies we find it appears less volatile. The same is true for the Yuan and there for bitcoin comparison to the yuan, can in some ways be more valid. But better than that, until the DAO is established, why not measure Bitcoin value against the SDR? Because the SDR is already based on a basket of currencies it should be very stable.
So after locating the SDR price in USD and that give us a bitcoin worth 481 SDR. Tell Mike that the heart is still beating!
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