So fiat would need to travel into and out of Bitcoin at a rate of $6bn per hour, so north of $50 trillion/year of volume traded (vs a fraction of that today) and you’re concerned about what, exactly? (I’m not saying I agree with your logic train, but let’s play along).
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Replying to @VinnyLingham @bendavenport
Isn't the point though that if people use it for payment/utility (& it's useful..), some may later start to utilise it as SoV -> which then lowers the velocity & increases value?
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The opposite force works as well. People start using it as SoV which increases liquidity / size / stability + decreases disincentives to spend, and more & more people eventually start using it for payments/utility. Why spend something that could go 100x? Just spend fiat
4:34 PM - 24 Jun 2018
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