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There 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
by jstanley 9y ago
There 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.