I have spent a lot of time figuring how to have three kinds of money (I. BTC = best store of value + transaction money II. Fiat like inflationary money/crypto for cheap lending III. Hyperinflation money used by governments instead of taxes) working together. Not easy.
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Replying to @Zdenek_Ros
I have too. According to Thier's Law, eventually, everyone will hoard Bitcoin currency and the bad money will inflate faster and faster, to a point where people don't *want* to accept the bad money. They will demand to receive Bitcoin for their products and services.
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Replying to @MustStopMurad
I know. I'm trying to come up with a set of rules to have both money in circulation in win/win situation for everyone involved. The key factor is interest paid on bad money by the issuer of that money.
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Replying to @Zdenek_Ros
Only money which people HOLD on their balance sheet for months/years at a time can have a big market capitalization... If any currency would be inflationary, it would be seen as “hot potatoes”.
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Replying to @MustStopMurad
Unless you can hold such a currency and receive interest for holding.
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Replying to @Zdenek_Ros
Doubt that would still be as good as the mildly deflationary Bitcoin
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Replying to @MustStopMurad
I fully accept BTC's superiority. I'm just looking for a way to make it even better by creating another currency that can coexist and offer the one quality that BTC will not be able to for many years and possibly never, cheap lending.
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Replying to @Zdenek_Ros
It just makes no sense to me how a civilization could store value in one coin and use another for lending. It doesn’t add up
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Replying to @MustStopMurad
Financial world isn't aiming for simple solution. Do the current fiat, stocks, futures, derivatives, precious metals markets add up to you? If so for how long have you known them? Fiat is dominant for many decades now yet it never was good store of value so others flourished too.
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Replying to @Zdenek_Ros @MustStopMurad
I expect BTC to become dominant with is capacity to be superior store of value and medium of exchange. But it is no good at being basis of credit or postponed payment, not now, not for many years to come and possibly never. Other forms of money will be needed.
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Replying to @MustStopMurad
Nice, I didn't know about this one. I'll look into it.
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