1 loaf of bread = 0.00005 BTC. As Bitcoin becomes more distributed throughout the population 1 loaf of bread = 0.000001 BTC. As long as people agree on the value.. it is really that simple.
If someone came up to me and asked to buy a loaf of bread for $0.10, I would say no because $0.10 does not give me much purchasing power. I lost a loaf of bread and can buy a piece of gum. If I can sell a loaf of bread for 0.00005 BTC and can purchase a pack of turkey slices for 0.00005 BTC I will accept the trade because it is worth it.
Cash is just one avenue for acquiring cryptocurrency since cash already has a fairly stable value.
1 loaf of bread = 0.00005 BTC. As Bitcoin becomes more distributed throughout the population 1 loaf of bread = 0.000001 BTC. As long as people agree on the value.. it is really that simple.
If someone came up to me and asked to buy a loaf of bread for $0.10, I would say no because $0.10 does not give me much purchasing power. I lost a loaf of bread and can buy a piece of gum. If I can sell a loaf of bread for 0.00005 BTC and can purchase a pack of turkey slices for 0.00005 BTC I will accept the trade because it is worth it.
Cash is just one avenue for acquiring cryptocurrency since cash already has a fairly stable value.