heh. People get confused about that, so much propaganda about it, but in any case not saying "return to", saying "other ways are possible"
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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You understand correctly but issuing another cryptocurrency is not intractable....
End of conversation
New conversation -
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Would you buy into this timeline if you had an alternative? I wouldn't.
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I ... need to think about it
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Okay now for the dark part: Bitcoin is a paperclip maximizer
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Securing the mainchain via proof-of-work will require 51% of all electricity + comparable industrial output, forever
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This is a Nash equilibrium. Defeating this particularly stupid form of heat-death is a coordination problem.
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My guess is, first it has to win. But never be deceived: Bitcoin wants to eat your children. Moloch incarnate.
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@leashless will enjoy this horror framing
End of conversation
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