USD denominates everything, only because the State mandates it.
If the free market determined the money, then the market would tend to the hardest asset out there.
Since #Bitcoin has a lower rate of issuance now than gold, which had the lowest for a long time (hence, why we once had a gold standard), the market would naturally trend to a #Bitcoin Standard.
This #Monero bro really needs a crash course in economics. We shoild send him a copy of nostr:nprofile1qqsyx708d0a8d2qt3ku75avjz8vshvlx0v3q97ygpnz0tllzqegxrtgpremhxue69uhkummnw3ez6ur4vgh8wetvd3hhyer9wghxuet59uxa93dl 's books
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Nobody said otherwise bro.
who tf are you talking to?
Your whole post said otherwise, so who tf do you think you are?
literally all my post says is
"the US dollar is the unit of account"
and you're trying to make it into some tribal Monero/Bitcoin thing
get fucked
If you didn't have your fiat glasses on, you would see that #Bitcoin is the unit of account and wouldn't be using USD
get fucked
When you compare the prices of two assets
in a graph
using the US dollar for comparison
(because thats what prices are)
you are using the USD as "a unit of account"
because it is the common unit of valuation.
another example,
people offering to accept payment in BTC
measure the amount of BTC they'll accept in USD
(because thats what prices are)
in these situations,
USD is called the "unit of account"
(because thats what prices are measured on)
and it doesn't change because you do some division in your head.
it isn't anybody elses fault you don't know what words mean.
My only point is that this common unit is only so because of the State
Episode 4 of "Bitcoin Maxis Have No Idea What a Unit of Account Is"
has just been released!!!
dont forget to like and subscribe!!
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nostr:nevent1qqswwgz6w6m2rynudj76aac838m8g4dmectg064tyk58hfkkp3fzh8cpzdmhxue69uhhwmm59e6hg7r09ehkuef0qgs0w3akkvsz24wt7ww8fv2d4x5ftp09lvs5x8q7vvq8rewgdnah52crqsqqqqqpadvl53
All I said was that the unit of account is so because of the State. If the unit of account was determined in the free market, then it would be #Bitcoin
And this shows I "have no idea what a unit of account is" how exactly?
don't feel bad bro
nostr:nprofile1qqsw9n8heusyq0el9f99tveg7r0rhcu9tznatuekxt764m78ymqu36cpzdmhxue69uhhwmm59e6hg7r09ehkuef0qy2hwumn8ghj7enjv4h8xtn4w3ux7tn0dejj7qg4waehxw309aex2mrp0yh82arcduhx7mn99ueat4s3 doesn't know what UoA is either
nostr:nevent1qqsvztyuaqt5m4xz5hgm82cl73relj4ahgj94g8c5ztmr2qsee29xuqpzdmhxue69uhhwmm59e6hg7r09ehkuef0qgsw9n8heusyq0el9f99tveg7r0rhcu9tznatuekxt764m78ymqu36crqsqqqqqp74vzfc
no, you unfortunately just keep proving the #Bitcoin maxi point. And utxo made a similar point to mine.
I guess some people just don't want to be helped, and you're on that list
uh huh
tell yourself whatever you need to get through the day I guess
otherwise,
show your fucking work. anyone can talk shit.
doing division in your head doesn't change the unit of account.
you're dividing by USD *denominated* prices for gods sake. are you retarded?
But you're only doing this because everyone in the world is forced to be using USD.
If the free market took over, we would be doing this division with #Bitcoin
Do you get that simple fact, or are you retarded?
I never said anything about that.
Sure you might be right.
That would be a better world with MUCH more accurate pricing.
You can't price accurately on a fiat UoA.
Which is the point on the conversion and something bitcoin maxis agree with,
except when fiat charts confirm their perspective on the inevitability of Bitcoin.
*Those* charts are an extremely correct hard money measurement 🙄
Since value is subjective, the only way to truly know #Bitcoin is the true unit of account is to see that it takes less sats to buy things you normally buy over time
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