xmr/btc is fiat chart denominated in US dollars
Discussion
all trading pairs follow the relative USD denominated price of each asset.
any deviation is a arbitrage opportunity and a million traders jump in it for low friction fiat.
there will be no real Bitcoin denominated prices under a fiat UoA.
because *thats what prices are set in*
The Bisq XMR/BTC is BTC dominated since you don't have XMR/fiat on Bisq and XMR/BTC is the most active market on Bisq.
yeah the way we're going to actually disintermediate fiat is three decentralized direct swaps.
and small communities transacting directly among each other in their preferred money.
bisq is a good example.
because of the higher friction, the spreads are larger.
if there was less friction, people would take advantage of the arbitrage opportunity and the prices would follow the centralized markets closer.