Russia: $2T GDP, $ XXXB M1, nukes, yet ruble has 40%+ volatiliy in < 30 days. Puts BTC ( <$1B GDP, $5B M1, no nukes) volatility in context
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@NickSzabo4@alexberegszaszi autarkic economic models have not proven so effective in practice, hence trade, hence an FX rate
@polemitis @alexberegszaszi @stacyherbert But FX can be decentralized (e.g. street vendors). Institutional FX source not cure of volatility.
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@NickSzabo4@alexberegszaszi@stacyherbert it is all of the above I think. and you won't get to serious volume w/street vendors.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@NickSzabo4@polemitis OTOH: provide a useful service to people and not just a replacement for the already available financial services -
@alexberegszaszi@NickSzabo4 yes, exactly. not enough of that yet
End of conversation
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