2/ I'm quite open minded to this analysishttps://twitter.com/JohnDCook/status/1441464771258187776 …
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3/ amusingly, not 20 minutes ago I finished giving a demo at work where I was showing off my code that implemented a multi-currency double-entry bookkeeping systemhttps://twitter.com/sneaknsneak/status/1441464903399665666 …
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It smells like Arrow’s theorem about voting systems: you can write down several desirable properties, then prove that it’s impossible to have ‘em all.
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Yes, it does! But also it might follow from Arrow's theorem directly, or one of its versions...
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yea. btc will probably eventually enable/backstop some derivative medium of exchange that actually holds its value vs baskets of commodities, goods, services, etc. probably will entail fierce competition amongst all the potential indices.
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You don't think this is less of a problem for bitcoin due to its high divisibility?
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high divisibility is nice, but it doesn't cushion absolute volatility, it just avoids the problem gold had where it was too valuable for anything but large transactions
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Which currency would you rather write a 30 year contract (like a mortgage) in? I'll take a well run fiat currency any time.
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>well-run fiat currency Not a lot of those around to choose from, and US$ has left that club long ago.
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In your view is the larger but more stable inflation rate of US fiat better than the lower more unstable inflation rate of US Gold? Or is that an apples v. oranges things in this context?pic.twitter.com/ps4cOA2Rkb
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