"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 …
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
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Money exists to facilitate commerce and trade (MoE). There will be many digital fiefdoms where the digital money used for commece and trade reaches min viable trust therefore has a flywheel for adoption. $0.02: Devs will use currencies with zero fees that support beautiful UX.
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the internet is a borderless realm read Hoppe, Menger or Hayek. convergence to 1 monetary standard is highly likely absent government interventions and borders. Money is but a tool to convey information. we don't need dozens of them.
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The limits of a technology is a border. The sooner you realize that, the better off you'll be.
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an interesting perspective
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We may not *need* them but it may *evolve* this way since these *technologies* (yes TECHNOLOGIES) are emerging simultaneously. Certainly the internet reduces friction but it doesn't dictate a sole victor. May ebb and flow between digital tribes for next decade or longer.
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read Hoppe, Menger or Hayek. convergence to 1 monetary standard is highly likely absent government interventions and borders. Money is but a tool to convey information. we don't need dozens of them.
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