Except Cryptocurrencies are Money not Equity... And Money is winner-take-most if not winner-take-all...
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Replying to @MustStopMurad @garrytan
I still haven't seen a convincing first-principled argument why money is a winner take all. Just because it was the case for gold doesn't mean it'll be the case for crypto-currencies.
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How many different monies do you hold every day?
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Define money. I hold of bunch of assets that has high-level of moneyness.
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which fiat currencies do you hold right now?
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Like 20.
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What? You hold 20 different fiat currencies?
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Replying to @hasufl @MustStopMurad
Yes. A bunch of government bonds and a bunch of shitcoins from traveling.
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Replying to @QWQiao @MustStopMurad
Did you know that there are cash exchange offices at every airport before you leave?
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Replying to @hasufl @MustStopMurad
Yes I don't have time for that. This is the "friction" argument for holding certain SoVs.
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except in the digital / open / decentralized / borderless realm that exchange could be 1000x more frictionless...
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Replying to @MustStopMurad @QWQiao
Plus the idea that if state monopolies over money are weakened you have to trade into local currencies less often to begin with.
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