Bitcoin was precisely designed to avoid Gold’s centralization problem. Once again storing your wealth in an inflationary coin simply makes no sense when a deflationary one exists. The latter is far more attractive as a SoV. And if its the biggest, people will demand it as MoE.
The high standard of living is due to technological advances and also because USD is the reserve currency of the world putting USA in a very priveleged position w/ seigniorage. USD is the best fiat but BTC is even better. (for productive individuals, less for the state / welfare)
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> The high standard of living is due to technological advances and also because USD is the reserve currency of the world putting USA in a very priveleged position w/ seigniorage. USD is the best fiat Agree with this
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Gold standard (1800s) was a time of more peace, less prolonged conflict. Fiat money is one of the big reasons why WWI and WWII could be so long and deadly. Fiat monopoly gives the state near-infinite power.
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Definitely agree with this. I also see that as countries 'jockeying' to be the #1 World Superpower since nobody had claimed that throne in the first half of the 1900s. Once we had nukes and our Petrodollar System in place, the world knew who #1 is & there have been no more WWs
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And I think that that status quo will continue until the USD is no longer King. At that point it will be US vs. China vs. Russia nuking each other to become the new King of the World (hopefully after we die)
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I think a non-sovereign cryptocurrency will become global reserve before we die.
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Wow. Very interesting. Could happen. On another note... The only Stablecoin I would trust to stay 'Stable' one that is the Global Reserve Currency (that's 'Least Common Denominator' lens I view Stablecoins through).
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Yeah. It remains to be seen if an algorithmic one could be self-sustainable but it’s an interesting monetary experiment. I actually think “hybrid” stablecoins will be the early approach - those that are partially backed / partially algorithmic. But tbh Fixed-Supply is my

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(or a pegged sidechain)