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Comment on API error knocks PayPal, Venmo offline around the globe

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.

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JackbyDev@programming.dev ⁨1⁩ ⁨day⁩ ago
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.

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- shortwavesurfer@lemmy.zip ⁨1⁩ ⁨day⁩ ago
  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.
  
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