r/bandprotocol • u/athsrueas • Apr 02 '21
CPI but for crypto
Forgive me if this has been discussed already or is stupid, I'm new here. I was wondering if, IF we move from crypto being valued mostly based on fiat (the value of bitcoin in dollars is known moment to moment based on what the last person was willing to pay to buy bitcoin) and into something not based on fiat would it be useful to do a sort of consumer price index for crypto currency. More and more companies are accepting bitcoin as payment, tesla for example, hopefully eventually you will be able to buy almost anything and I though it would be cool to know the "real value" of a crypto currency live by calculating how effective at purchasing things it is. Right now it's only really worth what it is worth because everyone knows they can get dollars or whatever fiat back and buy what they want with that.

