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0 sats \ 9 replies \ @SimpleStacker 29 Oct \ parent \ on: Money Isn't a Measuring Stick, Idiots (TDE, Pete Earle) econ
The relative value between goods is always subjective and fluctuating. Would you agree or disagree with that statement?
Yes. What does that have to do with the fixed nature of the medium of exchange that a buyer and seller use to facilitate their trade? Are they not able to gauge the value of the MoE and isolate it to the trade without it reflecting economic conditions?
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What natural unit are you suggesting that the medium of exchange is fixed to?
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Whatever the buyer and seller agree to. I would choose something not subject to the political whims of men. I thought virtually everybody on this platform would as well. I guess I was mistaken.
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What's the last thing you bought or sold with bitcoin?
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Bought a few weeks ago maybe. Sold about 2 weeks ago. Why?
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Do you and the seller agree to some fixed unit which measures the value of a sat when you made that exchange?
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Since 99% of prices of goods we see are measured in fiat, the only way to reliably measure the value of a sat (relative to other goods) is to use its CURRENT fiat exchange value, which is an effortless process using modern technology, so we used that fluctuating unit to agree on a price, but I fail to see what the previous or future value of the fluctuating unit that's helping us price in sats has to do with a the trade occurring at a SINGLE point in time.
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I think you really just took a lot of den's words and applied your own meanings to them.
You basically admitted that the exchange value of a sat fluctuates, because relative values between goods fluctuate. The value of a satoshi fluctuates and adjusts to the relative demand for various goods across the economy. That's all he was saying... it has nothing to do with the Fed or Keynesianism or whatever else you were accusing him of...