If blockchains don’t enable money, they enable disintermediation. Thus, in a p2p framework, the value flows directly to consumers, closing the previous “rent” arbitrage. Seems like only governance protocols can capture that value migration due to their superadditive nature.
Given that fixed-supply commodities, let alone moneys, have never existed before, how big do you think BTC would have to be to be usable as a convenient MoE, if at all?
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Tough q haha - intuitively being a MoE is a binary. That implies BTC will have to achieve full saturation of its TAM in order for that to happen. But that’s just trying to be inductive from SoV assumption
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Yeah BTC will need to be 40T+ to be a smooth MoE imho
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How do you calculate 40T? USD M0 is 4T so that seems high.
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Total USD is around 34T
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What do you include in the 34T figure? Money markets, etc? Are you assuming that there will need to be an equivalent amount of bitcoin because full reserves are required?
End of conversation
New conversation -
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My guess is it never will or will have to be a MoE
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