Thanks 🫡
although im not clear what "argue against the math" means? you mean they obviously cancel out?
like when I divide the USD price of a 2010 Toyota Camry by the USD price of Bitcoin, US dollars disappear and have nothing to do with the proportion I get?
Yeah, the canceling out thing is hard to ignore. UoA and deep liquidity (hence easy arbitrage) is a tough thing to break from.
Was thinking other day though, that if you stretch out the time between trades, then you can more clearly see how it's different trading pairs, since usd price for things fluctuates a good deal over even relatively short times. I think it's a gradually then suddenly thing in the end. Maybe we slowly chip away at USD UoA as markets freeze up here and there, and people use BTC (or xmr..sigh) increasingly.
Yeah, you're trying to squeeze into a short note what may be a short essay to articulate properly. Not that I could do it, nor that I even fully agree with your claim. But I know you've thought about it a good deal, so maybe have more of a point than comes across in shorter replies.
I don't know... I feel like the more words I use the more it sounds like a semantic jerk off.
that short example that I just posted is probably better at actually communicating it effectively.
