jakewoodhouse on Nostr: "One of the reasons that I have come to love Bitcoin is because it doesn't ...
"One of the reasons that I have come to love Bitcoin is because it doesn't change—that's why it gets called things like a pet rock. But since 2009 when it launched, the rules that govern the system have remained almost identical to when they started…Now, what FASB have done is they've basically changed the rules, so the way that you value a company is now different because of a sleight of hand…And it's interesting because it highlights very well how excellent Bitcoin is at what it says it is, which is a monetary network. And it's very useful for measuring value.
How far is it from here to my next-door neighbor? Well, it's a number of meters. Does a meter change over time? No. This is a commonly agreed distance that we measure things with.
Now, measuring value using dollars—what if the value of the dollar itself is changing? Well, you're suddenly using a measuring stick that is like: is it a meter and 10% this year? Or is it a meter and 6% this year? Or maybe you're somewhere that's hyper-inflating, and it's actually 2 meters is now the equivalent to a year ago. And this is very confusing, right? It really screws with the head, because what it ultimately means is that we are measuring economics with a stick that is constantly changing. And how can you make efficient economic decisions if the measuring stick is all over?"
Jake Woodhouse / Ep.28 / 2:18
Published at
2025-03-28 08:21:43Event JSON
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