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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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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Money is a tool to reduce uncertainty about the future. It is typically the most liquid, recognizable, saleable good. In a borderless digital realm, which has no local monopolies on violence, taxation laws, debt exintiushing laws and legal tenders..... why do we need many moneys?
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important to remember Gold was an MoE for 10,000+ years prior to this last 30-year period of deliberate Gold demonetization.
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Bitcoin took significant inspiration from BitGold which obviously was an attempt to recreate a Gold-like digital currency by Szabo
End of conversation
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