Stable relative to one another? So, like, all move in lockstep?
I simply doubt people will want state controlled fiat in a world of competing, unseizable, unstoppable, open-source, uninflatablr cryptocurrencies
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That thinking will send you insane at about the same time
@saifedean finishes counting his money from the suckers who bought his book -
why is this thinking insane? Can you provide concrete reasoning
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Going back to the point about stable coins, i asked what are they stable in relation to? A basket of commodities, food and rent? The basis of such an index is the basis of bitcoin. It's geopolitically diverse and apolitical. It can be the basis for stable, comparable money
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Can you answer exactly why people wouldn’t just hold Bitcoin itself?
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Why would they prefer one money over another if each hold the same value?
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I've said this a lot but I really think the unseizability of cryptoassets are their most undervalued and underappreciated feature
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If government's stop seizing money this attribute becomes a mute point. Regardless value stable money in comparison with each other is value stable you can't add "But what if its valued less?"
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Unseizable, arbitrarily uninflatable under no circumstances, censorship resistant, no KYC, no AML, private, anynonynous, unlinkable, borderless, outside of state control. You are from the West, you don’t know what kind of censorship / capital controls / seizures exist elsewhere
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We live in this world you doubt can exist.
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We do now but cryptpcurrencies are only recent inventions. Your thesis is backwards-facing not forward-looking
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Talking about central banks "collapsing" is not something I'm willing to entertain either. It's not how banks work. Its how bitcoiners that don't understand bitcoin and banks talk about banks.
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Maybe. But banks collapsing "en masse" is surely a possible, even likely, scenario.
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It's only likely and plausible if you don't understand how banks work. So I would like one of you claiming this scenario to declare when you understand how central banking works?
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The financial system can function without Central Banks. Check Selgin’s writing on privately-issued currencies in Canada and Scotland in the past
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You are telling me to read Selgin's work now?
End of conversation
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