Crypto teaches people how prices actually work.
If you buy one gallon of milk, price is a constant.
But if you want to buy 1000 gallons, you first empty out the cheapest store A at price X. Then store B is emptied out at price (X+dx). Prices rise as you buy more.
Same for BTC.
If you buy one gallon of milk, price is a constant.
But if you want to buy 1000 gallons, you first empty out the cheapest store A at price X. Then store B is emptied out at price (X+dx). Prices rise as you buy more.
Same for BTC.
Crypto exchanges teach people:
1) precisely how supply or demand shocks change prices by adding new [price, quantity] pairs
2) how markets truly are emergent phenomena, outside the control of any one actor
3) how many business concepts change once you treat prices as variables
1) precisely how supply or demand shocks change prices by adding new [price, quantity] pairs
2) how markets truly are emergent phenomena, outside the control of any one actor
3) how many business concepts change once you treat prices as variables
Another analogy: order books and the Overton Window.
With enough money, you can move the current price to a new price.
With enough votes, you can move the current policy to a new policy.
In both cases, this amount can be quantified.
With enough money, you can move the current price to a new price.
With enough votes, you can move the current policy to a new policy.
In both cases, this amount can be quantified.
