Fiat currencies don’t exist in a “free market”. They are local monopolies backed by legal tender laws, state decrees, debt extinguishing laws, violence and other monopolistic provisions...
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Replying to @MustStopMurad
That's actually a very good point that no one managed to bring before, nice one. But let me ask you, even if most money tends towards winner-take-all in a free market, does that invalidate having competition til a winner is decided? Or even afterwards as the winner could change?
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Replying to @crazy_crypto @MustStopMurad
Not to mention, does it also invalidate every other usecase possible with the blockchain tech as well? I don't think so.
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Replying to @crazy_crypto
To answer your first question, current BTC competitors are much, much weaker in terms of security, decentralization, cost of running a full node, credibility of monetary policy, existing ecosystem / monetary network effects, liquidity:pic.twitter.com/9PdSZ73JNd
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Replying to @MustStopMurad
I didn't ask you how strong they were, I asked you if they were invalid, if there isn't place for competitors.
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Replying to @crazy_crypto
I am providing facts and data, you’re just engaged in rhetoric. This is unproductive.
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Replying to @MustStopMurad
You're dodging questions and providing irrelevant facts and data to the questions asked. Agreed that is unproductive tho. I also just listed you usecases in the other reply since you seem to not acknowledge any. Facts and data.
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Replying to @crazy_crypto
You realize that value accrual (aka price growth, aka market cap growth) doesn’t come from “use cases” but from long-term holding preferences and circulating unit supply reduction, right?
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“Blockchain technology” being useful does not mean dozens of altcoins accruing value!
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