I really respect Kaloudis
but goddamn it
another Bitcoiner who thinks Cantillionaires apeing into BTC means that it's value is increasing. nostr:note1c0sfdycdkt3qasu6ry2g3avau3nryhvwce29jpsc5mcjkwl49p4qmacke3
Discussion
I must have struck a nerve.
Where did I say anything about fiat price? I simply said VS Bitcoin
I've had this conversation dozens of times.
it goes like this
You're talking about the fiat valuation of Bitcoin versus the fiat valuation of Monero.
Although 99% of the time you admit that fiat valuation is a bullshit metric and broken yardstick
when it serves your purposes you're happy to use to prove a conclusion you already hold.
this last cycle is evidence that it's broken,
because the only reason we're at this USD price point with empty mempools is because of VC capital and institutional investors
So what exactly has decreased in value versus what again?
If we arenāt talking about market value, then talking about value in a measurable way is not realistic.
At that point weāre just comparing two persons warm fuzzy feelings.
Iām glad you like Monero. Fewer people like it than Bitcoin.
May it provide you intangible value and happiness
The point is that
under a fiat UoA, pricing is broken.
maybe not always
and not all the time
but it often is.
and it's intellectually inconsistent for Bitcoiners to spend all day talking about fiat being broken,
and then use fiat measurements as evidence for their conclusions.
people can do what they want of course,
im just saying its stupid.
Purchasing power does matter. It just happens to generally be denominated in USD. But I suspect if we measured in pounds of beef, eggs, or some other common necessity in life instead of dollars, the results would be similar.
Idk man, the guy already said that ācantillionaires aping inā doesnāt make it more valuable. Heās arguing about how much value he feels it should have, not anything measurable, and that the market value or purchasing power is merely a result of fiat manipulation. Whatever you say bro
sure maybe.
the whole point is without a hard money UoA pricing is (often) broken.
Purchasing power of bitcoin is objectively leaving monero in the dust.
yes
the USD fiat denominated purchasing power of Bitcoin is increasing much faster than moneros.
that is not "value"
(unless you're in BTC for fiat denominated purchasing power of course)
How do YOU measure economic value then? There has to be someway to measure it objectively or else value is completely subjective and there is no point even talking about it.
this is one of the main problems with using a fiat UoA.
it fundamentally breaks pricing.
I'm not saying its a 100% worthless metric.
but its retarded how maxis spend all day shitting on fiat,
and then turn around and whip out fiat charts š
Ok so fiat is broken so you can measure economic value with it, so what can you, there has to be something? Or itās just a gut feeling? Cmon man.
If youāre going to argue about value there has to be a way to measure it or whatās the point of even arguing about it. Itās like arguing whoās taller but refusing to be measured.
"Value" is subjective and means different things to different people.
I'm NOT trying to make a case for a good way to measure it.
The best any of us can do is communicate WHY we find value in something.
I AM pointing out that fiat price is not a good way of measuring it in many cases.
Economic value is not subjective, it is measurable sure other values like cultural, personal, philosophical are subjective. If thatās what you are talking about but when talking about purchasing power it is pretty clear the discussion is about economic value. So we are talking about economic value, and you are talking about values as in what is important to you. Classic miscommunication.
We can use the terms "economic value" and "purchasing power" interchangeably if you like.
The point I'm making is fundamentally about how that pricing happens on a fiat standard.
I'm not talking about ideals or personal values.
Letās just put it in simple terms
If you buy equivalent USD value Bitcoin and Monero 5 year ago and hold the entire time until today.
You can buy a lot more shit with the bitcoin then the Monero.
Which one has more economic value?
A. Bitcoin
B. Monero
C. None of the Above
D. GFY
š¤£
as i said above
BTC clearly has more fiat denominated purchasing power.
Purchasing power of bitcoin in energy terms is objectively leaving monero in the dust. Happy now?
Canitllionaires pumping bitcoin is part of the plan my dude.
lol
yeah i was afraid of that
have fun with your state permissioned network
What can be captured will be captured. Monero is my favourite coin too but reality is what it is. Wall Street will pump bitcoin and monero remains in the shadows, pure and uncompromising.
