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@freemo @anon00110 @johnnada i approximated figuring that out, but i wasn't satisfied with it. basically had to do with selecting a handful of target commodities and then using those as the reference frame.
one tradition is pegging everything by kilograms of gold, but the way people actually use money is to buy food and rent.
one tradition is pegging everything by kilograms of gold, but the way people actually use money is to buy food and rent.
@freemo @anon00110 @johnnada yup. is why i never got anywhere with my project to find out why americans are so overpriced compared to other places.
i thought "let's peg it all to milk" and then, bruh, can't measure india by that.
i thought "let's peg it all to milk" and then, bruh, can't measure india by that.
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I think the key in understand value of classical fiat is to understand that it is basically an IOU from the government. Its value is derived from the credibility of the government and its people. Its buying power is effectively directly linked to the GNP. This is why crypto is so unique, its the first money we have that isnt linked to a specific group of static people.
