Let’s say market price of beef & butter is 1,000 & 500 Sats/pound, respectively.
We don’t have any #Bitcoin, but I have 1 pound of beef & you have 2 pounds of butter.
We can still use #Bitcoin price signals to negotiate a rational price.
1/2 lb of beef for 1 pound of butter.
This is why I say #Bitcoin price signals scale faster than UTXOs.
In a true free and open market where producers can directly barter with each other, workers don’t need to actually own #Bitcoin directly to use Bitcoin price signals to facilitate a fair & rational trade.
₿itcoin ₿ombadil
npub1pt…6vhsq
2024-08-08 10:18:35
Author Public Key
npub1ptasykarzj2cm7dc9wnyyqk4h6mhc0gznx4fe8ccl9hpnspnlhrqh6vhsqPublished at
2024-08-08 10:18:35Event JSON
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"content": "Let’s say market price of beef \u0026 butter is 1,000 \u0026 500 Sats/pound, respectively.\n\nWe don’t have any #Bitcoin, but I have 1 pound of beef \u0026 you have 2 pounds of butter.\n\nWe can still use #Bitcoin price signals to negotiate a rational price.\n\n1/2 lb of beef for 1 pound of butter.\n\nThis is why I say #Bitcoin price signals scale faster than UTXOs.\n\nIn a true free and open market where producers can directly barter with each other, workers don’t need to actually own #Bitcoin directly to use Bitcoin price signals to facilitate a fair \u0026 rational trade.",
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