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The value of every currency is expressed in other currencies. How else would you do it? Are you saying there is nothing in existence which can really be conside
by shawnz 6y ago
The value of every currency is expressed in other currencies. How else would you do it? Are you saying there is nothing in existence which can really be considered "money" except maybe the US dollar?
- toto444 6y agoIf suddenly every land on Earth but the UK is flooded, £1 will still have a value : the set of goods you can buy with £1.
- shawnz 6y agoHow is that different from Bitcoins? If suddenly every land on Earth but one is flooded, and some people there happen to use Bitcoins (in addition to their other assets, probably), Bitcoins will still have a value too. Same with gold and everything else besides the fiat currencies of the sank countries.
- lottin 6y agoThe value of a currency is expressed in purchasing power. Exchange rates are prices of currencies in terms of other currencies, they don't tell us anything about purchasing power.
- shawnz 6y agoSure, the actual utility of the currency might be best measured with purchasing power and not exchange rates. Same with Bitcoin or anything else, though.