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₿itcoin ₿ombadil
npub1pta…vhsq
2024-08-08 10:18:35

₿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.
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npub1ptasykarzj2cm7dc9wnyyqk4h6mhc0gznx4fe8ccl9hpnspnlhrqh6vhsq