and anOTHER thing (from the reading at https://unchained.com/blog/dollar-crisis-to-bitcoin/ ):
“Because bitcoin’s supply is fixed and cannot be manipulated, it will eventually become the most reliable pricing mechanism in the world and consequently, the greatest distribution system of knowledge. The volatility witnessed today is nothing more than the logical path of price discovery as adoption increases by orders of magnitude and as we advance toward that future state of full adoption.”
— greatest dsitribution system of knowledge… maybe not: maybe the ever-fluctuating price of BTC actively prices the value that investors want to put in, but once it settles down in “dollar value” (why are we pricing it in dollars?!), it will be more easily intuited with respect to other assets (most notably houses/cars/devices) maybe services too… at which point it would have established itself as a similar measurement tool that the dollar and gold had before it: measuring the value of work/productivity, e.g. GDP, i.e. it will be priced in “productivity”, as described in the Hayek 1945 reference from that reading above.
Maybe the “domestic” here is not necessarily an entire country but only the community of coin holders.
Nevertheless, as GDP fluctuates, so would BTC be expected to fluctuate (in what is arguably the best form of insurance –against widespread disasters/risks to personally stored value– a.k.a. socialized risk)
(Imagine, first, evaluating all goods/services offered by a community … extrapolating that to the GDP of the entire world… now imagine all the goods/services that can not be paid for yet provide enough value to command an exchange of value, i.e. a “price”…)
The only ways to increase its value would be to add new users’ productivities to the community or increase that of current users; thus it will track GDP inflation (just like the dollar was supposed to do, i.e. dollar inflation is a way of saying “we’re more productive!” than is truly the case, especially when considering that what we often enough “produce” is ideologies, all too often for export…imperialism, baby!) in a zero-sum way.
BUT on the way there, imagine how many goods/services still can not be paid for digitally yet provide enough value to command a price… as the variety of commodities/services increases, so to will the desire to pay for them and so will the different values being exchanged increase
SO WHAT?! --> a diversity of coins that each represent a community of espoused values (priorities) is what i see…
