A world in which centrally banked money is optimally managed is comparable to a world in which bitcoin is effectively global legal tender, and a world in which all central banks value stabilize versus bitcoin. Each scenario is an expression of Ideal Money
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why not? why some people drink coca cola when they can drink orange juice? The problem is not with national currencies, but with money printing. Deflationary national currency can be attractive. We want millions of local currencies, not just bitcoin.
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1) If Bitcoin is 50T market cap, hyperglobal, hyperliquid, wouldn’t holding it be less risk than holding your 300B Mcap Uruguayan centralized fiat currency? 2) Why won’t the local merchant just accept BTC for his services? millions of currencies is no different to barter.
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3) If they cant print money, all their existing debt pyramids collapse. Even if they don’t collapse, they don’t have as much monetary power at their disposal anymore for stability management.
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exactly, national currency with only limited ability to print is fine.
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More importantly, and towards the original tweet there. For the important reasons, bitcoin as the global currency or all national money printed in stable relation to each other and/or bitcoin each produces the same favorable result.... let us enter dialogue as civilization...
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Juice what are your thoughts on Stablecoins?
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They don't attend to the same problem as stabilizing our nation fiats. This is a key and subtle point. It is not "stable purchasing power" it is inter-national stability which is the proper MEANS.
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why do you believe international stability more important than stable purchasing power? is this something to do with balancing game theory among nation states?
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