randomuser321.bsky.social
@randomuser321.bsky.social

Speed of exchange, when comparing a currency of increasing value against a currency of decreasing value, should not be confused as an indicator of utility. There are very good reasons no-one is using Bitcoin as a medium if exchange at the moment
December 6, 2024 at 11:17 AM

A third party, watching you might conclude that VES is a preferable currency to the $US, as it appears more liquid. They might then conclude that the VES is a better medium of exchange and therefore more valuable.

Unfortunately they would be wrong.
December 6, 2024 at 11:17 AM
If you had in your pockets $100US and 4826.6 VES Venezuelan Bolivar (at the time of writing $100 US dollars). And you were in a store that would accept both. Would you spend the US or the VES?

You would probably spend the VES.
December 6, 2024 at 11:17 AM