What if asset tokenization enables a solution to the double coincidence of wants such that money is no longer needed at all?
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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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if they're convertible to BTC... why not just hold BTC ?
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Fair question, nations still have some legal strategies they can lean on (taxation, SDR reqs, etc). But I agree it does seem harder to compete with BTC vs gold since BTC is more convenient as a MOE. If fiat does collapse do you foresee a tremendous economic crisis in the process?
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. 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?