the point is we are still measuring the relative amount of US dollars chasing different assets.

we do not magically get to a hard money standard by dividing two fiat prices.

when the underlying UoA is fiat, we inherit those fiat distortions.

the moral of the story is

"accurate pricing is impossible on a fiat unit of account"

this needs be taken into consideration by bitcoiners.

i know it LOOKS like semantics, its not.

its a fundamental distortion in prices that is invisible to most. a fish doesn't know the water etc...

i appreciate your point about the less liquid markets. those probably have more accurate pricing.

i think this is important point because it demonstrates exactly HOW challenging it is to break out of fiat evaluations and to truly use Bitcoin in a sovereign way.

ie, small communities, pricing their needs *directly in Bitcoin* without any relation to fiat UoA insanity.