Did I mention EU or did I talk about Africa?
For the next 10 years, Bitcoin's enemy isn't USD or EUR.
It's the tail end of all the other shitty fiat.
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I understand that and I understand your quoting Hayek a few times. Hayek also argued against fiat as I understand it, but offered a basket of (useful?) commodities in the place of gold. Is Bitcoin that? When liquidity demand rises, how does doing more PoW help the real economy?
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In the countries where there is ‘shitty fiat’, is Bitcoin the best basket of commodities to come up with? This is all even assuming that fiat is only bad and can’t be made to work - which I disagree with, for now.
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I believe Hayek’s vision translated today were private central banks issuing ‘stablecoins’ which compete on stability and reputation in the free market. I personally see Bitcoin as Digital Neo-Gold. Some believe Bitcoin will replace fiat; others believe it will make fiat ‘behave’
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So which one of these are you proposing for the ‘shitty fiat’ replacement?
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I think we should let/watch this global free market experiment unfold. I think there will be 1-4 winners used for slightly different things.
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Well of course, we shall see and all that. My understanding is that you’re proposing Bitcoin as currency - somewhere - and there’s still no good arguments for how/why that’ll work.
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Why do you say that?
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How you do you run a modern economy with a rigidly fixed monetary base?
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