Oddbean new post about login | logout Please enlighten me in how to evaluate the appreciation of an asset then. Like I'm no mathematician but the denominator for both are depreciating at the same rate considering it's the same. Should I value it in hydrogen molecules?
the denominator is USD *price* homie its not the same. as the USD denominated price of an asset changes the trading pairs fluctuate accordingly.
I see what your saying hang on then.
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by your own statement there is no way to compare the two without being a fiat maxi, which is such a bad take, which is why i asked should i use hydrogen molecules. regardless of what you say. monero as priced in the shitty USD has lagged behind BTC priced in shitty USD. i dont know how you square the circle of calling anyone using USD as denominator as a fiat maxi. that is the world we live in right now. you may not like it but that doesnt make it true. bitcoin has appreciated more against the shitty USD than monero. infact bitcoin has appreciated over 300% in shitty usd terms since the beg of '23 monero has barely appreciated 2%. but onto the reall stuff. how do you evaluate an asset without being a 'fiat maxi'
in all seriousness im very intrigued to know what im missing here, as in what my denominator should be. you claim it shouldnt be USD cause it sucks. which we can both agree on
I'm called them fiat maxis because they're showing price charts as if USD valuation matters. I don't think the *really Fiat Maxis, they just don't understand that they're showing a Fiat chart because they misunderstand Unit of Account. The Unit of Account is how we compare the value of two assets. It's just a fact that the USD is the world Unit of Account. I don't think that's how it should be. but that's how it is. You or I or anyone doing division in their head doesn't change that. Until we get a bitcoin standard accurate pricing is impossible.
So you have so-called Bitcoin Maxis who are trying to shit on Monero by showing a USD denominated chart. which *at best* only graphs speculative interest by Cantillionaires. It's a pretty spectacular self-own. not that they mean to. It's just lazy thinking that suits their confirmation bias.
It's kind of like yen/rmb Imho. Different transaction classes. Tax btc at 10%, idgaf. By the time katillionaires catch on to it they'll be dumping tons into infrastructure and r&d and us roles can base xmr on Oz of mj
1 BTC = 1 BTC Or 1 BTC Block = Cost of production Then, cost of production should break free from fiat To break free from fiat one need to disengage from big energy producers and assert Sovereignity, all things considered. Others will argue that 1 BTC = Fiat parity is our Trojan Horse. Too many vectors, head is hurting. nostr:nevent1qqstjpl0vyu5hl85lc38chxcy7uu2adts6ts3vwlwdr9jd5998hhkccppemhxue69uhkummn9ekx7mp0qgs0npwnpyvheqz7zuvuwvv9k460c0hyqlturds40hhfn34vufvehwcrqsqqqqqpg6gr7j
It’s a messy transition as evolution tends to be. This guy and his ChatGPT / word salad responses are noise. The best solutions will continue to be chosen by the market and developed by global devs who choose where to put their time + energy. Hashrate, liquidity / trading partners and development are strong signal that Bitcoin is what matters and it is the Bitcoin network / stack that will develop into everything humanity needs in money. I really don’t care what happens with shitcoins (fiat included) at this point. It’s the “I don’t think about you at all” meme
hey fuck you i wrote all of these myself and they make a specific point. your response says nothing except a generic "something will happen because of reasons" its doesn't matter if you don't think about fiat at all. its a fact that prices are denominated in fiat. that shouldn't be a contentious statement among people who supposedly understand the basic principles of money.
Your point is retarded and you are noise. Muted, moving on.
show your work or GTFO If I'm wrong (always possible) I'm wrong because of a reason a reason that someone should be able to express. still waiting.
You two 😁 Impossible to find common ground huh
finally. cheers. exactly, right now we are setting prices in fiat. setting prices in BTC means we are setting them in "energy equivalency units" or price of block production. and totally, the exact methodology for *how* the underlying UoA changes is probably way too complicated for any one person to understand. I think when smaller communities can be more self-reliant and interact with fiat less they will naturally set prices in a UoA they value more. i mean, that not my idea that's basic Mises
So what you're saying is blindly follow sats per dollar index to accurately derive cost-per-goods relative value? 😉😜 On it sarge
You have so-called Bitcoin Maxis who are trying to shit on Monero by showing USD denominated charts. which *at best* only graphs speculative interest by Cantillionaires. fiat valuation is either a bullshit metric or it isn't. it isn't a hard money chart because you divided by the current fiat valuation of BTC. nostr:nevent1qqsytjshsx7na9jfehhlrzmrckmdf4x3qdvchnyyvlmpamu33ggycugppemhxue69uhkummn9ekx7mp0qgsrc4vssrmywp62vw8fe3k5cjr6q6l6hqgyq24tnfnef76f5pf320srqsqqqqqphmt7j4
Okay so once again I pose the question if I can't compare BTC/USD and xmr/USD to show how one is out appreciating another. Or you don't like xmr/BTC cause the BTC price is based in usd. How do you compare two assets? Btw fuck Bitcoin magazine and David Bailey. Fuck those fuckin fucks
The thread is just about the hypocrisy of Maxis using USD-denominated measurements when it suits their narrative, but shitting on fiat measurements the rest of the time. I was shocked to learn that they, in fact, don't understand unit of account at all. oh and how does Bitcoin magazine play into it?
I coulda swore I read Bitcoin magazine instead of Bitcoin maxi. Reading is hard :/ Fuck them regardless.
