Replying to Avatar Hanshan

Maxis (for lack of a better term) literally think they can get away from USD by dividing two US dollar prices.

They *fundamentally misunderstand* the role of UoA and it's importance.

this rant of mine demonstrates, despite their best efforts and best intentions, they are NOT going to get away from fiat so easily.

the US dollar baseline is so ingrained that I can literally spell it out (XMR/USD÷BTC/USD) and people will refuse to see it because "they don't touch fiat" and I'm a "fiat maxi" for pointing it out.

they don't understand that *as long as the price of BTC is denominated in fiat* there is no Bitcoin standard possible.

We are always comparing based on the UoA.
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pookiebear 1mo ago

Bisq prices xmr directly in btc so what's the deal? At least on there the valuations come from supply and demand, not fiat pricing.

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Hanshan 1mo ago

finally someone brought up Bisq!

but you're only sorta right I think.

it maaaybe could be direct pricing,

but an island in the middle of fiat ends up being de facto fiat denominated.

because any deviation is an arbitrage opportunity. so people jump in to take advantage and drive the price back towards regular XMR/USD.

minus the friction of doing it, which is why theres some deviation.

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pookiebear 1mo ago

yea arbitrage ruins it a lil, but mass delistings gives me hope