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RE: HBD And The Eurodollar System

in LeoFinance4 years ago

Now I wonder if the unit of measure will ever change. For some reason, I can't really see it going away because most of the systems around right now use this measurement. Besides a few crypto people who look at things in satoshi, I haven't seen other people focus on a different unit of measure.

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Contrary to what the Bitcoin maxis think, it wont go away from a long time.

It is a generational thing and 3 generations of adults right now are conditioned to think of things in the USD denomincation.

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All the names we use for currency-- dollars, pounds sterling, francs, yen, yuan, pesos, zloty, etc.-- were themselves based on weights of gold.

Then came a time when the names were divorced from the weights of gold to become what we know them as today.

So the change in unit of account can happen again; we just don't know what the new name will be. It could be CNY/RMB, something totally out there, or it could be a return to commodity-based money with gold as the favorite.

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