Bitcoinist book club: “Bitcoin standard” (Part 6, Part 1: price)

Let’s do it! It’s time for another dose of saifed Ammus ” Bitcoin standard. Today we learn about price’s magical properties.”A tool that is always available and easy to accept. But as we will soon learn, society could not be organized without rewards. This fact is also obvious and not easily noticed. So, be prepared to learn something that will be useful for the rest of your life.

As ammos says, prices are capitalism’s information system. And we’re all so used and trained to use prices to navigate that we don’t even notice them. Until today.

But first…

About The Coolest Book Club In The World
Bitcoinist book club has two different uses: 

1.- For the runaway superstar executive investor, we’ll outline mandatory reading books for cryptocurrency enthusiasts. One after the other. Chapter by chapter. We read them so you don’t have to and we just give you meaty bits. 

2.- For the meditative bookworm who is here to study, we will give notes to your lesson. Once our book club is finished with the book, you can always return to update concepts and find important quotes. 

All wins.

We’ve had it so far:

Prologue and Part 1
Primitive money (Part 2)
Why Gold? (Episode 3, Episode 1) 
Story (Episode 3, Episode 2) 
The gold standard (Episode 4, Episode 1) 
Public money (Episode 4, Episode 2) 
Money and hyperinflation (episode 4, Episode 3)
Time choices (Episode 5, Episode 1) 
Capital accumulation (Part 5, Part 2)

And now ” Chapter 6, Part 1: The Information System of capitalism”
The third feature of money, the” accounting unit, ” is what Bitcoin struggles with the most. As you may have noticed, the price of bitcoin is volatile. So you can say that bitcoin has failed as an “accounting unit.””However, the price is volatile only compared to fiat money. If Bitcoin were standard, it could suggest” a fixed frame of reference that allows you to compare the cost of various objects with each other.”

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  • BrokerEUR/USD
    OANDA 1.3pips (variable) margin: 3.33%
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