If we have the premise that the value trends are the same, we cannot then say "but people will prefer one over the other" That the value trends are the same is an indication of equal preference.
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Replying to @SoakerPatoshi @MustStopMurad and
Well speaking purely in terms of ideal money, I think you are correct. I think the black swan to your argument is that bitcoin becomes useful beyond money, a la on chain computation. In such a scenario, I see bitcoin still being the international stabilizing force
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Replying to @FluidFluxation @SoakerPatoshi and
But asset preference may be biased towards bitcoin if there is additional utility enabled.
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Replying to @FluidFluxation @MustStopMurad and
If the value trends are perfectly comparable, how could u suggest the markets prefer one over the other? Even if one killed you and the other made you superman?
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Replying to @SoakerPatoshi @MustStopMurad and
I meant individual preference. Even if Fiat becomes perfectly stabilized internationally, some bitcoiners are never coming back.
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Replying to @FluidFluxation @SoakerPatoshi and
& in the on chain computation explosion scenario I mentioned, while bitcoin and well managed fiat could be stable and economically indistinguishable, Bitcoin holders benefit as bitcoin as more than money evolves its valuation, limiting the parallel that well managed fiat provides
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Replying to @FluidFluxation @SoakerPatoshi and
why hold Fiat pegged to X imperfectly and arbitrarily managed by the state when you can have self-sovereign, unseizable, private ownership of X itself? It makes no sense
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Replying to @MustStopMurad @FluidFluxation and
If bitcoin becomes a value standard for fiat, then fiat is not being arbitrarily managed by the state - it is becoming comparable to a decentralised, apolitical value standard as determined by the cost of mining and its difficulty adjustment algorithm
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Replying to @jongulson @MustStopMurad and
Fiat always was governed by propriety, the will of the people, if we demand our central banks to print trustworthy money then they will.
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Replying to @SoakerPatoshi @MustStopMurad and
This is the message that will eventually reach out
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Bitcoin is going to eat the world. It probably won't be with the banks on fire, but it is coming.
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