Liberty Farmer on Nostr: You clearly have no idea what markets are. The value, aka price of something is set ...
You clearly have no idea what markets are. The value, aka price of something is set by markets. The number doesn't matter, because over time, all other numbers come into alignment via arbitrage of all currencies and assets
Utility means little. It is only what people are willing to take/pay/exchange for a good. That amount may change due to more or less utility however over time. Currently, that people are willing to trade $200 (ish) of a good or service for 1 Monero.
Same for Bitcoin, only $100,000.
You keep getting hung up on the fact that first is fake and bullshit. That isn't accurate however, as fiat dollars absolutely have value. They have value because people around the world trade in it, pay fmduties and levies, taxes, buy homes, et al.
The fact it loses this value over time against assets is the problem. A home costing 3x income is now 10x, etc ...
Free markets are always perfect. buyers and sellers. Somewhat free markets are mostly accurate in the short term, and adjust over the long term to the new market forces and correct.
Currently Bitcoin has a market value of over 500x that of monero. The markets have spoken so far.
This will only get larger over time however as has been the trend since 2018 when it peaked against Bitcoin.
You may value private transaction, as do I, however it is clear that the markets, AKA people, do not in any real way.
Utility means little. It is only what people are willing to take/pay/exchange for a good. That amount may change due to more or less utility however over time. Currently, that people are willing to trade $200 (ish) of a good or service for 1 Monero.
Same for Bitcoin, only $100,000.
You keep getting hung up on the fact that first is fake and bullshit. That isn't accurate however, as fiat dollars absolutely have value. They have value because people around the world trade in it, pay fmduties and levies, taxes, buy homes, et al.
The fact it loses this value over time against assets is the problem. A home costing 3x income is now 10x, etc ...
Free markets are always perfect. buyers and sellers. Somewhat free markets are mostly accurate in the short term, and adjust over the long term to the new market forces and correct.
Currently Bitcoin has a market value of over 500x that of monero. The markets have spoken so far.
This will only get larger over time however as has been the trend since 2018 when it peaked against Bitcoin.
You may value private transaction, as do I, however it is clear that the markets, AKA people, do not in any real way.