the only way to truly measure it. is in comparison to minimum wage and also price of buying groceries.
EG
california minimum wage is $10 so for 60 hours of labour ($600) you can get ~1btc
Idaho minimum wage is $7.25, so for 82 hours of labour ($600) you can get ~1btc
trying to think about only the $$ as is is futile. because in most cases buying with uk pound us based on the exchange rate via dollars.
but if you think of it from minimum wage (£7.20)
UK minimum wage is £7.20, so for 67 hours of labour ($489.52=$600) you can get ~1btc
which out of the 3 examples make it "cheaper" to buy bitcoin in california, then UK, then idaho
ill let you do the maths for REAL VALUE. for all area's.. and not the fiat value based on fiat exchange
its also worth adding in the 'cost of living' metric to get a more defined real "cheap" list of places to live to get bitcoin
EG
fiat:
california min wage= $10, loaf of bread $2
idaho min wage= $7.25, loaf of bread $1.50
now imagine they asked each other for one hours labour.
Idaho gets $10 from cali' and can then buy 6.66 loaves.. = happy
cali' gets $7.25 from idaho and can only buy 3.625 loaves = not happy
btc:
california min wage= 0.01666666btc, loaf of bread 0.003btc
idaho min wage= 0.01208333btc, loaf of bread 0.0025btc
now imagine they asked each other for one hours labour.
Idaho gets 0.01666666btc from cali' and can then buy 6.66 loaves.. = happy
cali' gets 0.01208333btc from idaho and can only buy 3.625 loaves = not happy
Franky, I think he is referring to different currencies, not a single currency. In the USA a dollar is a dollar.. no matter where you spend it,
you will get the same amount of Bitcoin for it, no matter where you are. { If you are in California or Idaho, and you buy at exactly the
same exchange, you would get the same amount of bitcoins. } He wants to buy Bitcoin with the cheapest currency. Try the Zimbabwian
dollar. { Just joking... you will still get the same amount, no matter what currency you use. }