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hbhgardens | 2 months ago (raw) | root | parent | reply | flag +1 
 Time & adoption is needed. A conversion rate is required atm, but once there is wide adoption people will start pricing in satoshis. I’d be willing to bet the value won’t fluctuate nearly as much either 

I’m sure folks knew the amount of gold to buy a loaf of bread back in the day, but I wouldn’t even have a good guess what that amount was/would be
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asourcefamiliarwiththematter | 2 months ago (raw) | root | parent | reply | flag 
 The point is that any fluctuation at all means the Bitcoin doesn't represent a specific unit of computing power.

If the dollar is just a name for a certain weight of silver (as it was in 1780) then any fluctuation at all makes the label "dollar" meaningless.

This may seem strange, but let's use a different unit: the gram. If I promise to pay you 10 grams of gold 2 years in a row, and I give you 2 different masses of gold, then either I've cheated you or "gram" is just a measure of whim (or both, especially if it's my whim).

So if "Bitcoin" is a monetary unit that represents 10 petaflops of compute, and then next year it represents 8 petaflops, it's not really a unit at all. Similarly, a "dollar" that represents 10 grams one year and 8 grams the next isn't actually a unit.