But it boils down to transaction costs.
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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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BTC disinflation is more credible than any fiat imho
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many countries already have negative interest rates if they stop printing their whole machines collapse
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