That doesn't really make sense though. There's an infinite number of altcoins to spread liquidity over. We've already cycled through thousands. Do you expect people to keep moving value and liquidity from one shitcoin to the next? That is entirely uneconomical and insecure.
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absent governments to continuously print more, a free market would never converge around an inflationary coin. fixed supply would be the schelling point. picking an inflationary one is irrational.https://www.youtube.com/watch?v=WL9BHDEf0dI …
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It’s impossible to make such a strong statement. We really don’t know. The market may converge around a mildly inflationary currency if it’s a more widespread MOE. Nothing exists in a vacuum except for your theories.
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are u gonna pick a form of money whose supply increases 1% per year or 20% per year in supply? exact same logic with 0% and 2%. why would you voluntarily dilute your own wealth? its like burning money
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Just picking select quotes highlighting the limitations of a deflationary currency, especially one for payments. I love Bitcoin! Don't think it will be ever used for payments. I do think a p2p, censorship resistant currency can be both a SoV and MoE with ~2% annual inflation.
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BTC will certainly be used for payments. if people demand it in exchange for their goods and services, you will have to spend it to eat, to rent, to buy supplies, etc. a 2% inflating currency will have to compete with BTC's soon-to-be 1% and decreasing... Not easy
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I don't think any currency will compete w/BTC on a pure SoV basis. I think BTC is moving to be a pure SoV. I'm 99x more optimistic about banks using RSK for smart contracts and Bitcoin than merchants using Lightning for BTC payments. 2% inflation can be a hybrid SoV and MoE.
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there is no such thing as a "pure SoV" when it comes to monetary goods. SoV and MoE are inextricably linked and exist concurrently. also if BTC *does* succeed as a hyperstrong pure SoV according to your thesis, it sucks value from other SoVs. value accrual hard for rest...
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Gold is close to a pure SoV -- in America, today. There will be multiple digital SoV winners. Bitcoin likely to be #1 as it will likely always be the most expensive to attack.
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