I got confused about notions of equivalence of norms.
Let $K$ be a field with an absolute value $|\cdot|$. Some theorem showed two norms $|\cdot|_1,|\cdot|_2$ are equivalent if and only if $|\cdot|_1=|\cdot|_2^c$ for some $c>0$.
On the other hand, two norms $\Vert\cdot\Vert_1,\Vert\cdot\Vert_2$ on a vector space are equivalence if and only if $D\Vert\cdot\Vert_2\leqslant\Vert\cdot\Vert_1\leqslant C\Vert\cdot\Vert_2$ for some $C,D>0$.
It seems that I could view the absolute value as a norm on $K$ as a vector space over itself. But then the two notions of equivalence seems to be contradicting to each other. One is exponential, another is linear.
Absolute values are multiplicative on the inputs. Vector space norms are not, or rather they have a totally different relation to multiplication, namely the scalar multiplication: $||cv|| = |c|\,||v||$. That isn't the same thing as $|xy| = |x||y|$ for absolute values because you're dealing with different objects: two elements of a field being multiplied or a scalar and a vector being multiplied.
In particular, you need to pick an absolute value on the scalar field before you can even speak about a vector space norm, since part of the conditions on a norm is its relation to scalar multiplication.
One situation where we can regard something as both an absolute value and a vector space norm is when we extend an absolute value from one field to another. Suppose $K$ is a field with an absolute value $|\cdot|$ on it and $L$ is a larger field to which $|\cdot|$ can be extended as an absolute value, and let $|\cdot|'$ be such an absolute value on $L$. Then we can regard $|\cdot|'$ as both
(i) an absolute value on $L$ since $|xy|' = |x|'|y|'$ for all $x$ and $y$ in $L$,
(ii) a $K$-vector space norm on $L$ since $|cx|' = |c|'|x|' = |c||x|'$, as we assume $|\cdot|'$ on the subset $K$ equals $|\cdot|$.
Sometimes $|\cdot|$ may extend from $K$ to an absolute value on $L$ in more than one way, but when $|\cdot|$ makes $K$ complete and $L$ is finite-dimensional over $K$ then there is at most one extension of $|\cdot|$ to an absolute value on $L$. Indeed, suppose $|\cdot|'$ and $|\cdot|''$ are extensions of $|\cdot|$ to an absolute value on $L$. Viewing them as $K$-vector space norms on $L$, they must be equivalent vector space norms because of the equivalence of all norms on a finite-dimensional vector space over a field $K$ complete with respect to an absolute value when we use that complete absolute value on $K$ in the definition of the vector space norm (see Theorem 3.2 here). Therefore there are positive constants $C$ and $D$ such that $C|x|'' \leq |x|' \leq D|x|''$ for all $x$ in $L$. Replacing $x$ with $x^n$, using multiplicativity, and taking $n$th roots, $\sqrt[n]{C}|x|'' \leq |x|' \leq \sqrt[n]{D}|x|''$. Now let $n \to \infty$ and we get $|x|'' \leq |x|' \leq |x|''$, so $|\cdot|'$ and $|\cdot|''$ are equal on $L$.
Example: the standard absolute value on $\mathbf C$ is the unique absolute value on $\mathbf C$ that extends the standard absolute value on $\mathbf R$ since $\mathbf R$ is complete with respect to its standard absolute value and $\mathbf C$ is finite-dimensional over $\mathbf R$.