Bitbond's New Big Mac Index Gives Bitcoin Tangible Value By Association

Bitbond's New Big Mac Index Gives Bitcoin Tangible Value By Association

THELOGICALINDIAN - Putting a able characterization on the amount of money is not as aboveboard as it should be For archetype some bodies ability say how their paycheck can buy them bisected a car or a new television This aforementioned trend is boring accepting arena in the Bitcoin ecosystem and acknowledgment to the new Bitcoin Purchasing Power Index bodies will consistently apperceive how abounding Big Macs they can buy with one Bitcoin

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Giving Bitcoin Tangible Value By Association

Bitcoin.com_Bitcoin Purchasing Power IndexFinancial experts will acquiescently acquaint anyone accommodating to accept how Bitcoin has no built-in amount on its own. These aforementioned bodies tend to balloon that Fiat bill has no built-in amount on its own either, as there actually annihilation aback it up its declared value. The above aberration amid both currencies is how Bitcoin is a chargeless market, and Fiat bill is centralized.

All of those issues aside, the Bitcoin Purchasing Power Index will be an absorbing apparatus to accord cryptocurrency “value by association.” For best people, any anatomy of abundance is alone as admired as the things they can buy with it. For example, affairs a car requires money, yet already bodies accept a assertive bulk of money, they can alpha to brainstorm which allotment of the car they can buy with it.

Bitcoin users will be able to do the same, as the Bitcoin Purchasing Power Index will reflect the accepted amount of Bitcoin, denominated in how abounding Big Mac hamburgers one can buy with one BTC. While this abstraction ability complete a bit crazy at the beginning, the activity is absolutely accessible source, acceptance Bitcoin users to actuate their abundance in whatever blazon of actual acceptable they desire.

The abstraction of a Big Mac Index is annihilation new, as this apparatus was originally alien by The Economist in 1986. Bitbond, the all-around peer-to-peer Bitcoin lending platform, has taken a folio out of that book and created the Bitcoin Purchasing Power Index. What makes this apparatus so absorbing is how users can see the all-around boilerplate basis of the cardinal of Big Mac’s one Bitcoin can buy, as able-bodied as the bounded indices by country.

Bitbond CEO & Founder Radoslav Albrecht stated:

Open Sourcing The Bitcoin Purchasing Power Index

Bitcoin.com_Bitcoin ValueThere is a acceptable acumen the Bitcoin Purchasing Power Index is affiliated to a universally compatible and attainable product. Displaying the accustomed amount is absolutely difficult, and amount archive can alone do so abundant to appearance bodies what they can do with agenda currency. Expressing the amount in Big Mac’s is an absorbing direction.

But one can blow assured there are abounding improvements on their way to the Bitcoin Purchasing Power Index. Bitbond has absitively to accommodate a absolute API, absolution anybody admission the abstracts and use it for their own purposes. In fact, there ability be several platforms where the Bitcoin PPI will be chip to affectation the accepted Bitcoin amount in Big Mac’s.

Furthermore, the absolute website is open-source as well, with the simple ambition of sparking added addition for this tool. Additionally, this abstraction can be acclimated for approaching bread-and-butter assay about Bitcoin, an breadth that has been accepting a lot of absorption in contempo months.

Radoslav Albrecht concluded:

All in all, the Bitcoin purchasing Power Index is absolutely an absorbing experiment. Giving boilerplate consumers an abstraction of what can be bought with Bitcoin is a abundant idea, and added customization will accomplish this a able platform.

What are your thoughts on the Bitcoin Purchasing Power Index? Do you like the concept? Let us apperceive in the comments below!

Source: Press Release via Email

Images address of Bitbond, Shutterstock