Oddbean new post about login | logout I use Monero frequently enough that I am beginning to commonly recognize how much things should cost directly in Monero was very little thought. I guess this feeling would be similar to something experienced by a frequent traveler between two countries that uses both currencies because I can do the conversion in my head fairly quickly and be pretty close to accurate.
"how much things should cost" is still a USD measurement though isn't it? because people aren't denominating prices in XMR
I actually do denominate prices in Monero and encourage others to do the same. https://xmrbazaar.com/user/AuroraGeneralStore/ https://xmrbazaar.com/user/TheBasicsStall
sigh it isnt XMR denominated when you take the USD value and divide by the USD price of Monero. Thats still a USD UoA. Thats the whole point of what Im saying.
You have to buy the goods you're selling in Monero for something, whether it's dollars or sheep or gold or silver or whatever, you have to buy it with something in order to put it into the Monero economy. You're not just being given the items for free.
yeah i get it and those prices are denominated in USD which is why usd is STILL the UoA that doesnt stop until we have circular economies that don't touch fiat
Right, but to do that, we're going to need manufacturers and farmers and miners, etc. We need actual resources to be denominated in Monero as they are pulled out of the ground or roll out the factory door, etc. But in order to even get companies like that interested, I think we need to get the price of Monero to stabilize. And what I am doing is attempting to help at least that little bit.
I totally agree just saying that until then its not changing the UoA
It is changing the unit of account between you and the business, but it is not changing the unit of account between the business and the supplier. You as an individual, though, get to denominate prices in Monero and save in Monero if you wish.
UoA IS NOT the medium of exchange between two parties. UoA IS the base currency prices are denominated in. people are consistently confusing those two things and the difference matters. It's a step in the right direction for people to use a different Medium of Exchange, but it does not effect the underlying unit of account. People can transact in bales of cotton or barrels of oil But as long as the *amount of cotton or the *amount of oil is decided by the USD equivalent value of those things, then the unit of account is still USD.
damn. true