House prices won't switch from dollars to Bitcoin all at once. Money has never changed that way.
1650s New Amsterdam ran on wampum, beaver pelts and guilders. 1990s Russia bought groceries in rubles and apartments in dollars.
Cory takes us through it all ...in today's OUTSIDE MONEY
"IF BITCOIN IS MONEY, WHY IS EVERYTHING STILL PRICED IN DOLLARS?"
Because store of value comes first.
Conventional wisdom says people spend Bitcoin next (medium of exchange), then price things in it (unit of account).
But in 1990s Russia, businesses priced things in dollars and took payment in rubles.
…in today's OUTSIDE MONEY