That's what money is though. It's what you hold when you don't know what you're going to end up buying and therefore want to maintain optionality by minimizing future transaction cost.
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That is true and of course only getting better. If we suppose that tokenization does eliminate the transactional demand for money, any figures on how large the remaining asset demand for money as a store of value would be?
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Actually I believe if Bitcoin succeeds in its fixed-supply form, the total amount of wealth held in it, in 2018 USD terms, will be higher than $90T currently held in Fiat. Think about it. If $90T is held in inflationary/dilutable/depreciating instruments today, how big BTC'll be.
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real estate, stocks, bonds etc. right now are overvalued because fiat is shit
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I would could certainly settle for that
. Is $90T total current supply? I’m wondering how big of a subtraction transactional demand is. Also, gold was about 30% of total supply under the gold standard due to fractionalized fiat overlays. So $30T-ish? -
I think BTC will be $140T-$200T
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So total collapse of fiat? Why wouldn’t fiat simply harden and retain some value via a Nash ideal money scenario?
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fiat requires trust, is seizable, likely require KYC, is censorable, can revert back to inflationary at any time btc doesnt
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I value those things, but most will only care about the inflation. Govts would likely take extraordinary steps to avoid this outcome. E.g. constitutional guarantees for convertibility to BTC like Sweden had for Riksbank notes under the gold standard.
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