BTCMeansFreedom4All on Nostr: GM. 🌅 Should wallets include a metric comparing the current wallet holdings to the ...
GM. 🌅
Should wallets include a metric comparing the current wallet holdings to the time required by the network to mine that amount?
It's a more concrete unit of account against Bitcoin than the dollar is, and it's a value that only changes at the halvings which would facilitate it's ability to be used as a unit of account as things could be prices in TIME.
What do y'all think about it?
It would go like this:
2024 - 2028, a wallet with a balance of 1,000,000 SATs = 1,920 milliseconds of global hashrate. That's about 520.83 Sats per millisecond.
2036 - 2040, a wallet with a balance of 1,000,000 SATs = 15,360 milliseconds of global hashrate. That's about 65.1 Sats per millisecond.
2052 - 2056, a wallet with a balance of 1,000,000 SATs = 245,760 milliseconds of global hashrate. That's about 4.07 Sats per millisecond.
If we think of sats as representing the value of time itself, and how saving for longer increases the time value it holds, then the value of Bitcoin and Satoshis becomes much more intuitive.
Should wallets include a metric comparing the current wallet holdings to the time required by the network to mine that amount?
It's a more concrete unit of account against Bitcoin than the dollar is, and it's a value that only changes at the halvings which would facilitate it's ability to be used as a unit of account as things could be prices in TIME.
What do y'all think about it?
It would go like this:
2024 - 2028, a wallet with a balance of 1,000,000 SATs = 1,920 milliseconds of global hashrate. That's about 520.83 Sats per millisecond.
2036 - 2040, a wallet with a balance of 1,000,000 SATs = 15,360 milliseconds of global hashrate. That's about 65.1 Sats per millisecond.
2052 - 2056, a wallet with a balance of 1,000,000 SATs = 245,760 milliseconds of global hashrate. That's about 4.07 Sats per millisecond.
If we think of sats as representing the value of time itself, and how saving for longer increases the time value it holds, then the value of Bitcoin and Satoshis becomes much more intuitive.