roarkjanis on Nostr: My thinking is that we need tools to easily track and account for our stored bitcoin ...
My thinking is that we need tools to easily track and account for our stored bitcoin and then convert USD prices back to bitcoin before we make a purchase or when we get paid in USD.
We begin to think of and manage our money like a person does who has USD and visits a country and encounters a different currency as #UoA (for example pesos in Mexico) and does the calculation back to USD to understand the “real” cost. Bitcoin if you stay in the country for more than a few weeks you begin to automatically and intuitively recognize the value of the new currency without having to convert back to USD
If bitcoin is your base currency and you track and account for your value in it, each time you need to transact in USD or any other currency you will convert mentally to bitcoin and assign value relative to your base currency of bitcoin. As bitcoin continues it adoption curve more and more people will think this way until the majority haven’t transition the pricing #UoA because they already think that way and businesses understand their costs in bitcoin too
This is too hard to do in your head but with simple apps that facilitate, it should be possible. I’m starting the journey to live 100% on bitcoin while treating USD receipts and payments and only a payment rail and I’m building the tools to make it easy for me to accomplish that and then share the tools with the world
We begin to think of and manage our money like a person does who has USD and visits a country and encounters a different currency as #UoA (for example pesos in Mexico) and does the calculation back to USD to understand the “real” cost. Bitcoin if you stay in the country for more than a few weeks you begin to automatically and intuitively recognize the value of the new currency without having to convert back to USD
If bitcoin is your base currency and you track and account for your value in it, each time you need to transact in USD or any other currency you will convert mentally to bitcoin and assign value relative to your base currency of bitcoin. As bitcoin continues it adoption curve more and more people will think this way until the majority haven’t transition the pricing #UoA because they already think that way and businesses understand their costs in bitcoin too
This is too hard to do in your head but with simple apps that facilitate, it should be possible. I’m starting the journey to live 100% on bitcoin while treating USD receipts and payments and only a payment rail and I’m building the tools to make it easy for me to accomplish that and then share the tools with the world