now if EVERYONE IN WORLD is measuring it in feet (a Unit of Account)
and you decide to measure it in meters
you haven't changed the unit of account.
Now they change the definition of "feet" to be 20% longer.
Six weeks later they change it to be 10% more than that.
then after a little while they ot goes down 7%.
So you adjust your "meters" 20% more
and 10% more
and 7% less
because the *underlying Unit of Account* has changed.
This is exactly what you're doing with the underlying US dollar price of Bitcoin in relationship to any other good you might name.
its true that the distance traveled (UTXOs) haven't changed
all that's changed is the arbitrary fiat assessment of "value"
which is the whole point of what I'm saying.
the yardstick is arbitrary bullshit.
Kanzan
npub1lx…6svxa
2024-10-06 21:02:57
in reply to nevent1q…nak0
Author Public Key
npub1lxzaxzge0jq9u9cecucctdt5lslwgp7hcxmp2l0wn8r2ecjenwasu6svxaSeen on
wss://nos.lolPublished at
2024-10-06 21:02:57Event JSON
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"content": "now if EVERYONE IN WORLD is measuring it in feet (a Unit of Account)\nand you decide to measure it in meters\n\nyou haven't changed the unit of account.\n\nNow they change the definition of \"feet\" to be 20% longer. \nSix weeks later they change it to be 10% more than that. \nthen after a little while they ot goes down 7%.\nSo you adjust your \"meters\" 20% more \nand 10% more\nand 7% less\n\nbecause the *underlying Unit of Account* has changed.\n\nThis is exactly what you're doing with the underlying US dollar price of Bitcoin in relationship to any other good you might name.\n\nits true that the distance traveled (UTXOs) haven't changed\nall that's changed is the arbitrary fiat assessment of \"value\"\n\nwhich is the whole point of what I'm saying.\nthe yardstick is arbitrary bullshit.",
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