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When goods and services start being quoted in BTC you would have that argument.
by notyourday 9y ago
When goods and services start being quoted in BTC you would have that argument.
- jstanley 9y agoThere are no goods and services inside your model. There are only 2 currencies. Your assertion that the exchange rate is bogus because it is possible to buy 1 BTC for $400 applies just as well in the opposite direction.
- notyourday 9y agoExcept that we have never seen that happen.
- jstanley 9y agoWhat does that even mean? Was your $400 + 400 BTC model supposed to be an argument from first principles, or was it supposed to be a reference to some empirical evidence? I don't think you're being as intellectually honest in this thread as you could be.
- notyourday 9y agoOk, that was a cheap shot, I agree. I am, however, yet to see a single article talking about USD being quoted in bitcoin. Just like I do not see any articles of USD being quoted in Samsung TVs. I do see bitcoin being quoted in USD. I see USD being quoted in Euros and I see Euros being quoted in USD. That's why Sansung TVs and BTCs are not currency while USD and Euros are. So BTC is asset. Assets in an non-liquid markets are prone to enormous bubbles.