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What would it mean if Bitcoin became the world’s Unit of Account?
Unit of account is the thing that measures the value of goods and services. Right now, we measure everything in fiat terms or dollars. Prices. Salaries. Profits. Debt. GDP. Net worth. Bitcoin is treated as the variable, fiat is treated as the constant. If Bitcoin became the world’s unit of account, that relationship flips. Here is what actually changes. Prices would stop lying: In a Bitcoin unit of account world, prices trend downward over time, not upward. Houses get cheaper. Technology gets cheaper. Efficiency gets rewarded. Waste gets exposed. Instead of asking, “Why is everything getting more expensive?” ... (full story)
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