The USD Denominates Everything
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Because apparently it needs to be said,
the only reason you can make the conversion BTC->XMR
or to whatever
is because you have an underlying UoA denomination to compare them with.
its the US dollar.
it denominates everything.
you are comparing
two USD denominated prices.
the price of one thing.
as measured in USD.
against.
the price of another thing.
as measured in USD.
A comparison of the relative FIAT value of two things,
that is what a price graph is.
As long as the UoA is the US dollar.
Replies (8)
Here in Australia, publications always use AUD. In Britain its the pound.
BTC or gold would be my choice. Maybe XMR if the context is DNMs.
Can you show me some prices you're quoting in BTC or gold or XMR.
I'd be happy to see other units of account in niche circles. Hey maybe I'll participate in said niche circles even. They just might catch on.
But there aren't any.
I’m 100% a layman on this topic, but this makes sense to me. Probably why I’ve seen people say 1BTC = 1BTC and same could be said 1XMR = 1XMR if it’s just viewed as money.
For the other side of the argument, it’s very difficult for me to wrap my head around how someone could say something is more valuable just because the fiat (USD) price of it is more. The entire point is that the fiat system is literally shit. Plus even though the price of Bitcoin could be going up in USD, while that’s happening the dollar is getting weakened. So like … my brain just does twirls trying to grasp it
I love buying things in BTC or XMR.
prices may still be denominated in USD originally but it's a good first step.
as communities become more self-reliant and not needing to interact with fiat as much,
they can start to price goods purely in what they themselves value.
> prices may still be denominated in USD
#btcfail
What does it mean to be "100% off the USD" if you have to interact with it?
Hanshan
The USD Denominates Everything
---------------
Because apparently it needs to be said,
the only reason you can make the conversion BTC->XMR
or to whatever
is because you have an underlying UoA denomination to compare them with.
its the US dollar.
it denominates everything.
you are comparing
two USD denominated prices.
the price of one thing.
as measured in USD.
against.
the price of another thing.
as measured in USD.
A comparison of the relative FIAT value of two things,
that is what a price graph is.
As long as the UoA is the US dollar.
View quoted note →
The euro yen and usd are all backed by each other; but substations are still a principal. Even if it were walnuts to btc the transactability is still there
