Money historically has been winner take all because of friction (mental and otherwise). This is changing...
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Replying to @evanbotello @mdudas and
I think the frictionlessness might make it *even more* winner-take-all than ever before... It's PRECISELY because of frictions that we have 150+ fiat currencies in the world... these frictions / borders / laws won't exist in the digital realm
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Replying to @MustStopMurad @mdudas and
My point was that friction increases the costs of switching. Now switching costs are lower. But, believe what you want!
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Replying to @evanbotello @mdudas and
That's a part of it. Another point is that money is the most liquid/saleable good. It's risky to hold the less liquid one
5:59 AM - 26 Jul 2018
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