Just read the foreword by @nntaleb and chapter 1 of The Bitcoin Standard by @saifedean. I was going to read other books concurrently, but now I want to finish this fast to really get into his mindset. So far, I like how he's using 1st principles to explain the history of money.
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Well, difficult to do in a tweet! I cited Austrian econ for ref to readings on banking within a system that does not have monetary manipulation as a tool. on btc: for example look at liquid and see one example of how fin assets can be migrated and used on top btc.
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liquid is interesting thanks for that reference. think it illustrates a particular conundrum common to crypto however which is to what extent does it need to replicate existing financial institutions vs to what extent does it represent a radical transformative break
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crypto romantics hope it's the latter but practical necessity is constantly pushing it towards the former
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I think it'll be both. It will offer individual sovereignty in sound money basis whilst tech will offer more and more financial applications
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The internet took away the role of intermediary and freed information to flow, no monopoly on info. Bitcoin will do the same for value transfer, no intermediary(at least not proprietary) and people can trust that no gov entity will corrode monetary value. This will take decades.
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btw its definitely possible for govts to manipulate the price of Bitcoin, but even if it werent, it still wouldn't guarantee stability
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Bitcoin will not offer stability for a very long time. If it did it wouldn't be revolutionary. Stability will come above 5/10 trillion
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