Your thinking is completly stuck in the present. Perceptions change, and BTC is changing people's perception of fiat.
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Replying to @descentralizabr @JamesGRickards
People don’t make fiscal policies that controls markets... Central Banks and governments do. Look at China and Russia for bitcoins future
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Replying to @amlivemon @JamesGRickards
Remember that long before govs and central banks there was people and free market.
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Replying to @descentralizabr @JamesGRickards
They were Neanderthals and nomads then. Organized society always had govt issued currency that society trusted. Roman, British, Persian, US
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Sorry but that is not true. Money existed long before Central Banks.
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Currency was issued by military powers for trade historically. There needs to be trust(or perception of it) for currency to be accepted. Bitcoin has none of requirements to become a currency
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Replying to @amlivemon @jman0war and
Gold wasn’t “issued” by anyone. It was freely chosen by the market due to being hard to produce and thus hard to inflate. Same will happen to Bitcoin, it’s even more disiflationary.pic.twitter.com/oXh5RgDupU
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Replying to @MustStopMurad @jman0war and
Gold has industrial value in addition to being used as coined pieces issued by governments. Additionally, even today you’d need to convert it to fiat to make it truly useable for everyday purchases.
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Replying to @amlivemon @jman0war and
1) Gold was valued before governments were a thing. 2) For centuries gold was medium of exchange directly without having to convert it to another form of money. 3) An object doesn’t need use value to be money. Fiat doesn’t have any either!
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Replying to @MustStopMurad @jman0war and
1. Gold was most valuable when governments used and accepted it for trade(Egypt, South American dynasties, European monarchies). 2. Gold was used AS currency minted by nation states, monarchies, etc. 3. Unfair to compare gold then to fiat now as our systems are complex
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Gold was used for monetary properties (Store of Value, Media of Exchange, Media of Wealth Transfer) long before governments were a thing. Money gets chosen by the market, not the state. The former has 10,000 years of history. The latter only 46. https://nakamotoinstitute.org/shelling-out/
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