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It means that the index went up 3x denominated in (priced in) bitcoin, rather than priced in dollars. i.e. using bitcoin as the unit of account instead of dolla

It means that the index went up 3x denominated in (priced in) bitcoin, rather than priced in dollars. i.e. using bitcoin as the unit of account instead of dollars. I suspect that 'denominated' doesn't mean what you think it means.

ww520 4y ago
The PricedinBitcoin21 index shows the price of goods and services priced in bitcoins. It's akin to the CPI showing the price of goods and services priced in USD. The PricedinBitcoin21 index going up 3X means goods and services are 3X more expensive when paid with bitcoins, which means bitcoin has been devalued 3X. It's bad for bitcoins for the index having gone up 3X. It's like the CPI has gone up 3X. You want the index to go down if you're holding bitcoins. From your previous comments it seems you believe your net worth has gone up because of this index gone up. This index going up has the opposite effect on your bitcoin based net worth. I hope I'm mistaken.
- anonporridge 4y ago
  You still don't seem to understand. I suspect you asked your initial question incorrectly and wanted to know if my dollar denominated crypto holdings have increased or decreased in value. They have obviously decreased when measured in dollars. When it comes to value, there is no objective measuring stick. There is no SI standard of measure for value. Every way to measure value is subjective and must be compared relative to other measures. You can measure your net worth by the measuring stick of dollars, euros, Venezuelan bolívars, oil, gold, bitcoin, cartons of eggs, or McDonalds big macs. The Big Mac index is a popular example of this, https://en.wikipedia.org/wiki/Big_Mac_Index https://en.wikipedia.org/wiki/Big_Mac_Index When you ask what my "bitcoin denominated net worth" has done, what you asking is what my net worth number has done when measured in terms of bitcoin rather than in terms of dollars. In this value measurement context, if all of my net worth was directly in bitcoin, there would be zero change, just like if all of my net worth was directly in dollars there would never be any change to my dollar denominated net worth.
  - ww520 4y ago
    > My bitcoin denominated net worth has gone up a lot this year……which has almost tripled in value this year. Whatever make you happy. Happy investing.

ww520 4y ago

The PricedinBitcoin21 index shows the price of goods and services priced in bitcoins. It's akin to the CPI showing the price of goods and services priced in USD. The PricedinBitcoin21 index going up 3X means goods and services are 3X more expensive when paid with bitcoins, which means bitcoin has been devalued 3X. It's bad for bitcoins for the index having gone up 3X. It's like the CPI has gone up 3X. You want the index to go down if you're holding bitcoins. From your previous comments it seems you believe your net worth has gone up because of this index gone up. This index going up has the opposite effect on your bitcoin based net worth. I hope I'm mistaken.

anonporridge 4y ago
You still don't seem to understand. I suspect you asked your initial question incorrectly and wanted to know if my dollar denominated crypto holdings have increased or decreased in value. They have obviously decreased when measured in dollars. When it comes to value, there is no objective measuring stick. There is no SI standard of measure for value. Every way to measure value is subjective and must be compared relative to other measures. You can measure your net worth by the measuring stick of dollars, euros, Venezuelan bolívars, oil, gold, bitcoin, cartons of eggs, or McDonalds big macs. The Big Mac index is a popular example of this, https://en.wikipedia.org/wiki/Big_Mac_Index https://en.wikipedia.org/wiki/Big_Mac_Index When you ask what my "bitcoin denominated net worth" has done, what you asking is what my net worth number has done when measured in terms of bitcoin rather than in terms of dollars. In this value measurement context, if all of my net worth was directly in bitcoin, there would be zero change, just like if all of my net worth was directly in dollars there would never be any change to my dollar denominated net worth.
- ww520 4y ago
  > My bitcoin denominated net worth has gone up a lot this year……which has almost tripled in value this year. Whatever make you happy. Happy investing.