How Capitalism keeps going, and what will augur its end.http://www.ianwelsh.net/the-control-and-continuation-of-capitalist-societies/ …
The striking thing about BTC and ETH: there is no debt and no leverage. No one will lend you a Bitcoin, let alone lend two while hodling one
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bitcoin is the stupidest way possible to do something necessary
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I think you underestimate stupidity's limitless potential
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Perhaps. But I really don't want to live in a world where the main coin is even stupider than BTC
End of conversation
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This indicates to me that the fiat structure will capsize. The Internet of Agreements is our last, best hope.
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The current ratchet is altcoin: fiat flows in, value pumps, and flees to the main chains during the dumps.
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The next ratchet is collateralizing fiat loans with crypto. Borrow x against 0.y Bitcoin, pay it back to retrieve 0.y appreciated to x+z
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The swamp practically drains itself!
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A 2008 event in future would require the Fed to hard fork. The value of each branch is determined by investor/user confidence.
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most of the bailouts in 2008 should not have happened, but a world without leverage is terrible. The gold standard was /shit/.
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The reason Bitcoin isn't leveraged or loaned currently is the relative hyperinflation of fiat. Once/if that process succeeds, it'll happen
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leveraged BTC is only possible if you leverage into other currencies, unless I misunderstand something.
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