This mental framework seems unnecessarily / impractically binary.
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As to your last point, yes - see the second tweet in this thread (more or less similar). I also agree that the winner-takes-all dynamics are incredibly attractive and I certainly might be wrong about it's practical implementation merit.
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"Unsound" money imo can only be enforced by a enforcing agency with a one-of-a-kind amount of leverage (eg central banks). Otherwise there's no way to "jump-start" a seigniorage currency.
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Without the socio-economic leverage/deep reserves/shock resistance of such an enforcing agent, the structure seems too fragile to survive. A counter-argument to this could be that all it needs is just the appropriate size of starting capital to force it into existence.
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But given the ambitions, that seems like an infeasibly large amount.
End of conversation
New conversation -
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