Bitcoin advocate TFTC launches browser extension for real-time BTC pricing
Distorted price signals from fiat currencies have destroyed the ability to make rational economic calculations, according to Truth for the Commoner founder Marty Bent.
Truth for the Commoner (TFTC), a media company that advocates for Bitcoin and sound money principles via a newsletter and podcast, launched the “Opportunity Cost” browser extension on Wednesday, allowing users to view online prices in Bitcoin (BTC) or sats to weigh purchasing decisions.
TFTC founder and contributor Marty Bent outlined three main goals of the extension, including promoting low time preference behavior — a reference to a willingness to defer present consumption to meet future needs — increasing Bitcoin adoption and providing a tool for business owners to calculate revenue denominated in BTC. Bent told Cointelegraph:
“The concept of opportunity cost has been completely corrupted in the late stage fiat era wrought with interest rate manipulation and money printing. The interest rate and pricing signals that humanity has depended on for millennia to make economic decisions are no longer reliable.
“Bitcoin reintroduces a proper hurdle rate that enables individuals to truly weigh the opportunity cost of their spending decisions,” the TFTC founder said. The software is open-source and has no revenue model. A hurdle rate is the lowest rate of return an investor will accept.
The browser extension is the latest in a series of tools, products, and services designed to spur Bitcoin adoption and normalize a Bitcoin standard where all prices and financial calculations are expressed in Bitcoin terms.
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The world adopts the Bitcoin standard bit by bit
A growing list of companies and financial institutions are adopting a Bitcoin treasury strategy by converting all or a portion of their cash reserves to BTC as a long-term savings account that accrues value with time, rather than depreciating like traditional fiat cash reserves.
Companies such as Ledn, a BTC lending company, have created Bitcoin-backed loan products, giving BTC holders the option to use the asset as collateral to secure debt financing.
These loans allow individuals and businesses to finance real estate purchases, automobiles, operational expenses, capital investment, and even acquire more Bitcoin without selling any of the supply-capped asset, which might appreciate over time.
These financial services and functions are the necessary infrastructure to create a Bitcoin standard where all economic calculations, including opportunity costs, savings, and lending markets, are denominated in BTC.
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