True, but the market decides what it’s ultimately worth. For example, Monero, on the 365-day moving average, is worth $152.31. And it fluctuates within about 6% of that level, almost always. So as a person who sells items directly for Monero, I just used the 365 day moving average. That way my prices stay stable, just like the prices in fiat currency do.
It’s weird to me that you believe the market ultimately decides what crypto is worth while acknowledging manipulation happens, but don’t believe the market ultimately decides what the US dollar is worth while acknowledging the fed controls the rate of inflation.
I guess what I’m meaning is that American citizens are basically forced into using the US dollar. If you go to the grocery store in Atlanta, Georgia, you cannot use euros to buy your groceries. And so you just have to put up with whatever the grocery store says it’s worth. The forex markets such as the euro dollar market or the yin dollar market or the yuan dollar market set the actual value of the dollar, but the Fed does have control with inflation.
You don’t believe that an unregulated and anonymous money like crypto doesn’t have its price manipulated?
True, but the market decides what it’s ultimately worth. For example, Monero, on the 365-day moving average, is worth $152.31. And it fluctuates within about 6% of that level, almost always. So as a person who sells items directly for Monero, I just used the 365 day moving average. That way my prices stay stable, just like the prices in fiat currency do.
It’s weird to me that you believe the market ultimately decides what crypto is worth while acknowledging manipulation happens, but don’t believe the market ultimately decides what the US dollar is worth while acknowledging the fed controls the rate of inflation.
I guess what I’m meaning is that American citizens are basically forced into using the US dollar. If you go to the grocery store in Atlanta, Georgia, you cannot use euros to buy your groceries. And so you just have to put up with whatever the grocery store says it’s worth. The forex markets such as the euro dollar market or the yin dollar market or the yuan dollar market set the actual value of the dollar, but the Fed does have control with inflation.