Oddbean

You're talking about valuation vs market price. There's many factors that effect both; like quality, quantity, supply and demand. The eggs are 4700 sats. They're also $4. Merchants who define their base FX, and then subsequently trade in that, will determine it. "we do not accept cash" - a merchant policy for example. "We only accept bitcoin" - another policy You're not wrong in your understanding, but it's a little strained. Fx exists in any measurable way, x to y. It will always exist in a free market. If one trader has eggs for $4 CAD and another wants to sell bacon, one could equate eggs/bacon market value, attribute that to and currency and then trade it. What you're aiming for, like many bitcoiners, is that Bitcoin becomes the standard medium of exchange/unit of exchange, as the dollar is the standard medium of exchange across base input commodities (wheat, soy, gold, rice, cobalt, diamonds, oil) all priced in USD and allows the US to export it's inflation.

Thank you for the clarification! I think @OceanSlim was right when he said I was over complicating it in my head. This makes a lot more sense. I agree with this sentiment and admit I was incorrect. I also agree with your final point, I definitely am aiming for that and working towards grass roots starts with other locals! Starting local circular economies is one small step forward. 💪

This is indeed when we get a stable yardstick and can price goods accurately. In the meantime, as long as USD is the price that fundamental Units things are Accounted, no price can be represented without fiat taint. Sometimes the taint is very small, like in the case of locally bought eggs. Sometimes it is very large, as in the case of Amazon stock or Tesla.