Hmm, even though 41% think crypto is in a bubble, nobody seems to have good ideas for how to measure bubbliness. In stock bubbles, P/E is a good metric. In debt crises, debt-to-tax-revenue is a good metric. What the heck do you measure here?https://twitter.com/vgr/status/951339822739734528 …
This is not a new idea. Many local currencies existed, mostly not to enrich speculators or buy drugs, but to overcome shortage of liquidity in communal economies, or to implement negative interest rates. They were all squashed, obviously.
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I guess you're saying, while there are known benefits, it's unrealistic to expect nations to allow serious competition. Probably true and with many old and recent examples. But who knows? Maybe a large country will defy our expectations.
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Possible! But also very risky. I really hope they run simulations and contained experiments first. It is also clear that our current monetary systems will need a reboot at some point. (And btw., 80% of btc is held by a tiny number of accounts: you don’t want that in an economy.)
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