Only fiat maximalists think like this, you are projecting your own fiat mind

I could literally price things in bigmacs or bottles of water if I wanted to, you are the one bringing up USD all the time and asserting that "everything" is priced in it

BTC/XMR has its own rate but you just can't stand to look at it without coping, but here it is again, sans usd

-76% prices in SATS, hfsp ๐Ÿซ‚

Reply to this note

Please Login to reply.

Discussion

Bitcoin is ๐Ÿ‘‘ of NGU in more than one way ๐Ÿ’€

What's wrong with that chart? Wallstreey cheat sheet tells me this is "maximum opportunity".

But I see most Bitcoiners since 2017 are more into buy high than buy low. Otherwise they would have bought BTC in 2009-2012.

Iโ€™ve still not got an answer from someone to these questions so Iโ€™ll ask you, utxo: Can you tell us how many Monero can be purchased with 1 Bitcoin? Now can you tell us WHY you can buy that many Monero for that amount of Bitcoin? How do they calculate how much Bitcoin is worth in Monero?

I can buy x amount of any day because Monero holders are willing to sell x amount on any day

It is calculated by supply and demand, same way all prices are determined

Iโ€™m not sure Iโ€™m understanding this so forgive me if Iโ€™m ignorant here, but is it not based off of their prices in fiat?

Like 1 XMR = ~0.0023 BTC, and itโ€™s exchanging at that rate because 1 XMR = ~$146 USD, which also is = ~0.0023 BTC. So you get that amount of Bitcoin /because/ thatโ€™s how much the XMR would be worth in fiat. Or is there another way to calculate it?

It's not because of the USD price. Sats trade in hundreds of currency pairs and Thousands crypto pairs and real world goods. There was a time where two pizzas = 10,000 BTC and there was no fiat price.

All prices everywhere are determined by supply and demand, fiat has nothing to do with it. If they printed trillions more USD, the Monero/sats pair probably wouldn't move that much even tho the USD/sats pair would move a lot

I suppose this would be why we see arbitrage between exchange pair prices - different supplies & demands on the various platforms?

I definitely have to learn more about this all lol

Consider this hypothetical scenario, letโ€™s say all other currencies, except for bitcoin and monero, disappear overnight. We only have bitcoin and monero left. Do you think more people will want to start using monero instead of bitcoin and thus start paying more and more bitcoin in exchange for monero?

Personally, I donโ€™t think so. Imo moneroโ€™s use case is much more niche than bitcoin. If bitcoin is the internet of money, then monero is like TOR (much lower adoption)