Kanishka NaikA unit of account is one of the three primary functions of money. It is a standard numerical unit used to measure and compare the market value of goods, services, assets, and liabilities across an economy.
transform-socialDo #anarchist #economies need a universal unit of account? Many socialist economy models suggest a universal unit of account: Some of them circulating money as in capitalism, others non-circulating tokens based on hours of work.
But do we want or need a universal unit of account at all? Do issues outweigh the benefits? I collected some arguments in
https://www.kialo.com/anarchist-economies-universal-unit-of-account-63128
Feel free to contribute.
mukona#bitcoin as store of value yes.
#bitcoin as store of value only, no.
#bitcoin as a daily mean of exchange is much more viable than many are portraying.
Not only LN got much better with many options to use it,
#statechain such as mercurywallet are amazing to use, and increase #fungibility and #privacy
Plus all other L2 and centralized solutions.
tx scaling is now.
Next: #unitofaccount
Dick Smiths Fair Go Supporters@alice
> Energy is something that should be spent carefully.
Obviously, tells the #corporateState and #warmongers that, please. Not Lil ol' bitcoin securing the best form of #currency and #unitOfAccount ever to grace the face of earth.
@FranckLeroy
@jwildeboer
All we see are #astroturfing #Westerners thowing stones in their glasshouse.
Suddenly #ElSalvador are evil and need #regimeChange because they are working out how to use a #UnitOfAccount that cannot be easily confiscated by US and UK.
Maybe the US/UK need to look in the mirror a bit because the world is moving on.
Pot called kettle black.
@FranckLeroy
For the record, we only heard about this news from #antiBitcoiners, lol.
#astroturf (noun) - a fake grassroots movement.
If #ElSalvador and its people, are starting to see the benefits of #BTC over a #UnitOfAccount like #gold, of which #Venezuela's gold was recently confiscated by the #UK and handed to an extreme rightWing opposition…
Then yes, that is only commonsense. What are you looking for #regimeChangeWars?
If you thought #ProofOfWork was bad, take a look at Proof-of-Stake.
Its 'complexity theatre'!
A proportionate amount of #energy to backup a global #UnitOfAccount is fine, and much preferred over unproven methods like #colonialism, #violence and ProofOfStake.
#NFTs #ETH #complexityTheatre #ElonDusk #DontLetTheSunGoDownOnYouOnYourWayOut
CryptoCoin ☑️The Inflection Point
By @Steve :
https://sgbarbour.medium.com/the-inflection-point-1df6235372e8
"Note that this inflection point concept and cycle idea is incompatible with the popular S2F model, which is based on consistent 4-year pump cycles as scheduled by each halving every 210,000 blocks or ~4 years."
"After the inflection point fiat inflates at accelerating rates until it becomes essentially worthless and unusable."
#Bitcoin 
#InflectionPoint #S2F #BTC #HyperBitcoinization #Fiat #UnitOfAccount #Gold #CentralBank
cryptopiratedont get distracted by #bitcoin pricedevelopments. Price will follow Value. Value is created through Technology which ensures Bitcoin is better than any other form of Money in existence.
BITCOIN is already
#PeerToPeer
#Uncencsorable
#Boarderless
#MediumOfExchange #StoreOfValue
#UnitOfAccount
#durable
#uniform
#portable
#limitedInSupply
#divisible
Just some work on the #privacy #fungabilty side and a few billion people will start using it in the next 10 years and change the way the world works
BITCOIN is already
#PeerToPeer
#Uncencsorable
#Boarderless
#MediumOfExchange #StoreOfValue
#UnitOfAccount
#durable
#uniform
#portable
#limitedInSupply
#divisible
Just some work on the #privacy #fungabilty side and a few billion people will start using it in the next 10 years and change the way the world works