this is typical of Bitcoin advocacy - arguments are abbreviated to dropping a few words that allude to the concept of an actual argument - a refutation by vague

this is typical of Bitcoin advocacy - arguments are abbreviated to dropping a few words that allude to the concept of an actual argument - a refutation by vague reference. Answering these is annoying, because it pretty much requires you to make their argument for them. In this case I think the thing he's alluding to is when bitcoins were "$13,000" in Zimbabwe but $9,000 elsewhere. What was happening was that this was the price in the local USD-substitute currency, which traded at a 40% discount to actual dollars: “This new currency was supposed to be fully convertible into U.S. dollars, a promise that has proven to be illusory. It has since slipped to a large discount to the dollar. So when Zimbabweans buy bitcoin for $13800 — they aren’t paying with U.S. dollars, they are paying with this new unit … In Zimbabwe, the market exchange rate is set unofficially, on street corners and such. Without an on-the-ground data gathering network to canvas street corners, an outside observer can get a decent proxy for the exchange rate by gathering bitcoin prices on the internet.” https://jpkoning.blogspot.co.uk/2017/11/zimbabwe-and-hyperbitcoinization.html https://jpkoning.blogspot.co.uk/2017/11/zimbabwe-and-hyperbi...