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Re:Binance founder 'CZ' leaves prison on Friday–along with h... by JumpCrisscross on Friday September 27, 2024 @03:17PM (#41674495)
> the transaction price of "centralized currency adoption" is not a priced object

Of course it is. Joining a currency union carries costs.

Broadly speaking, you're correct: the term has ambiguous meaning. My point is that isn't something new, but an element that has always been with the term.

Re:Binance founder 'CZ' leaves prison on Friday–along with h... by s1artibartfast on Friday September 27, 2024 @04:41PM (#41675331)
I think that still runs afoul of the "uninvolved 3rd party" part of the definition.

Two actors can both generate value from a transaction due to a difference between price and their respective utility value for what is traded. This producer and consumer surplus is explicitly distinct from externalities.

If there is a currency deal between the US and Argentina, the consequences to those countries are not an externality. However, if this deal produces a 2nd order change in the Chinese RMB, some would call that an externality, although I would call it a consequence (because externality implies mispricing)