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That's a rather ridiculous reductio ad absurdum. The euro/USD exchange rate has varied between roughly 1 and 1.6 over the past 10 years. That's including the 2
by simias 9y ago
That's a rather ridiculous reductio ad absurdum.
The euro/USD exchange rate has varied between roughly 1 and 1.6 over the past 10 years. That's including the 2008 crisis.
Meanwhile over the last year alone the BTC/USD exchange rate varied between about 500 to 3400.
My 10 euro bill is extremely unlikely to suddenly massively increase or lose in value. That's the difference.
- deleted 9y ago[deleted]
- elmar 9y ago> The euro/USD exchange rate has varied between roughly 1 and 1.6 over the past 10 years. This low range variation is only possible because of government monetary intervention that doesn't exist on CryptoCurrency.
- eutropia 9y agoOr the spectacular (billions and billions) amount of real world objects and services traded for those dollars and euros at the margin, every single day, continually acting as feedback for their value.
- matthewbauer 9y agoI don't think that's true in this case. EUR/USD is a floating exchange rate.
- Zarath 9y agoIt is true to an extent, this is why central banks inflate, perform liquidity swaps, etc.
- elmar 9y agoHow Does the Government Regulate Exchange Rates? https://www.thebalance.com/how-does-the-government-regulate-exchange-rates-3306087 https://www.thebalance.com/how-does-the-government-regulate-...