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The Holy Grail of cryptocurrency trading is the Lambo: the wildly useless car used to tie unbelievers, no coiners . But how much does a Lambo really cost in cryptocurrency? Which coin will get the best deal? Lambonomics can answer this.
I present to you: the Lambo index . A new website has been launched that tells you, in real time, how much cryptocurrency you need for a Lamborghini Huracan, worth over $ 200,000. Today, one will cost you just over 3000 Litecoin.
You see, in economics, there is something called the Big Mac index Burgernomics is a method for comparing two currencies with how much a burger costs in each and determining the appropriate exchange rate.
If a Big Mac costs $ 5 in America, but the equivalent of $ 20 in South America, then the exchange rate between the two currencies should be 1: 4.
We can use it to see how the currencies are compared, if they are evaluated correctly. Now, while the Lambo index only gives us conversions for the fixed retail price (RRP) of a Lambo in a country – if its developers could include data from Lambo retailers around the world, the theory of lambonomics would be really complete.
To update us up until then, I made some changes to the definitive guide of the Economist to the Big Mac index, which coined the term in 1986. It still works completely.
Lambonomics was never intended as a precise indicator of cryptocurrency misalignment, but simply a tool to make exchange rate theory more comprehensible. Yet the Lambo index has become a global standard, included in several cryptocurrency subreddit, the subject of dozens of academic studies and even an article on Hard Fork.
At the moment, it only shows the amounts in Bitcoin, Litecoin and Ethereum – but that's OK, Lambonomics is just a quick reference. Use it the next time the Lambo seller is giving you a quote in cryptocurrency: a quick check of the Lambo index and you would know if they were robbing you.
Published August 13, 2018 – 13:11 UTC
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