Right. So what becomes more like money?
That thing that people are buying *only* to hold to
in value?
Or that thing that has greater utility for spending, gives them more network connections to spend w/ (think Metcalfe’s), produces yield when holding to offset inflation?
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I *think* the winning global, programmable, p2p currencies will be those run on the most number of computers throughout the world where the maginal cost to reach consensus on a transaction will be 1000x of today.
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I think it will be the most secure and reliably uninflatable ones :)
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A deflationary cryptocurrency has a low probability of being used for payments -- at any meaningful scale https://hackernoon.com/the-impact-of-bitcoins-deflationary-token-economics-on-its-viability-as-a-global-digital-currency-878f3042fb08 … ...A great store of wealth though!
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how do you explain gold? By 1880, it was was mildly deflationary and yet it was a SoV, an MoE, a UoA, a global monetary standard and stable.
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Deflationary in what sense?
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"The point is that by not building in an inflation, of say 2% per annum in the global supply of Bitcoin, you almost doom it as a currency, because people will start hoarding it, knowing that it’s going to be worth more next year than it is this yr" - @ 51mhttps://asiasociety.org/hong-kong/should-people-invest-bitcoin …
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"A hard supply cap or built-in deflation is not an inherent strength for a would-be money. A money’s strength is in its ability to meet society’s needs."https://www.economist.com/blogs/freeexchange/2014/04/money …
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are you really quoting the notoriously Keynesian "the economist"?

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@Cryptow1re why do you think wealth will be stored in several currencies except just one? money is the most liquid good -
1/ There will be multiple protocols that find an economic balance between SoV and MoE 2/ People/Co's will buy and hold to perform dWork so they can earn on multiple protocols (staking) 3/ The programmable nature of sound p2p *currencies* will give SoV, MoE, and UoA a tail
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The data is early but the demand for staking PoS protocols is high. Here's Tezos live data: https://docs.google.com/spreadsheets/u/1/d/e/2PACX-1vTOyZxHRyCFuGEc3HjZWp3EkWPVJFVZNqPkxhsnHf1pE4XFuqFf2lNe79rSDfjkSaU3Bv_TAE1hcAFZ/pubhtml … ... from conversations with the Cosmos team, it's high over there too.
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