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by imsd 1711 days ago
More and more, I'm hearing only the ETH value rather than dollar denomination. Personally, when I bid (or receive bids) on any of my NFTs, I'm only considering the ETH price.

It's a new shift, but I think quite profound.

Edit: If you're referring to mainstream media, the dollar value is all that most would be able to put into context. For those deep in the space, we're thinking about dollar values less and less. My primary benchmark on overall portfolio value is the value denominated in ETH, not USD.
1 comments
bb88 1711 days ago
But ETH is still tied to the dollar and that's where it gets its value, is in the comparison to the dollar. I don't accept ETH for a used car I'm going to sell. I accept dollars, though.
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imsd 1711 days ago
I'm not sure I understand. You could denominate ETH in dollars, yen, euros, gold, or any other form of money/currency.

Although USD might be your preferred, many would happily sell a vehicle for compensation in BTC, ETH, silver, gold, euros, etc.

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bb88 1711 days ago
Well... I wouldn't, nor would 95% of the US. I want to be paid in stable currency backed by the full faith and force of the US Government.

"Oh shit, the internet went out. Hope the value of my ETH doesn't crash through the floor while the internet is down...."

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tigertigertiger 1711 days ago
Yeah I can't keep track about the weekly times the whole internet went down. Probably a couple of times a week
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bb88 1711 days ago
It's not the whole internet, just you or the company that holds your BTC wallet. Just the other day Facebook was down for hours. Imagine had that been Coinbase.
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User23 1711 days ago
You can denominate ETH in whatever you want, but come April 15th you’d better exchange enough for dollars to meet your dollar denominated tax obligation.
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hanniabu 1711 days ago
> But ETH is still tied to the dollar and that's where it gets its value,

For people that look at it like that, sure. That's not how everyone looks at it though. I personally look at it with the aim of acquiring as much ETH as possible because I can see that the future economy will be built on it and eventually things will be priced in ETH.

Just because the transitions are slow and you don't see it happening, doesn't mean that there's not a transition happening.

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