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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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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Replying to @kacperwikiel @MustStopMurad and
Murad never tires! He's a very worthy opponent.
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Replying to @panekkkk @kacperwikiel and
It's funny how these debates occur across disjointed comm tech. If in 100 yrs we have BTC, ETH or X as sole $, some historian will write a simplified account that future Murad's will use to justify why the next $ will victor. But all the debates/details/close calls will be lost!
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I like to say that these cryptocurrencies are getting priced and their price discovered in real time through these debates (all such debates put together)
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Replying to @MustStopMurad @panekkkk and
That’s not really how any market works. (Referring in real time). The longer your time frame the more this statement is correct. Most people don’t generally change large opinions. What matters more is market participants (inflow and outflow).
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