₿itcoin ₿ombadil on Nostr: Let’s say market price of beef & butter is 1,000 & 500 Sats/pound, respectively. We ...
Let’s say market price of beef & butter is 1,000 & 500 Sats/pound, respectively.
We don’t have any #Bitcoin, but I have 1 pound of beef & you have 2 pounds of butter.
We can still use #Bitcoin price signals to negotiate a rational price.
1/2 lb of beef for 1 pound of butter.
This is why I say #Bitcoin price signals scale faster than UTXOs.
In a true free and open market where producers can directly barter with each other, workers don’t need to actually own #Bitcoin directly to use Bitcoin price signals to facilitate a fair & rational trade.
We don’t have any #Bitcoin, but I have 1 pound of beef & you have 2 pounds of butter.
We can still use #Bitcoin price signals to negotiate a rational price.
1/2 lb of beef for 1 pound of butter.
This is why I say #Bitcoin price signals scale faster than UTXOs.
In a true free and open market where producers can directly barter with each other, workers don’t need to actually own #Bitcoin directly to use Bitcoin price signals to facilitate a fair & rational trade.