Okay that thinking out loud helped. I think I understand debt better now. Not that it helps. Now I'm more convinced I'm very ill-adapted to this world since I refuse to be a locust bound to other locusts via mutual public debt obligations. I'll pay higher taxes, but that's it.
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If instead of a few hundred national currencies and $ as the denoting default, you had millions or billions of currencies, almost all of it backed by small/local patterns of debt holding, what would happen? Like in crypto markets most tokens would have effectively no liquidity.
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The median currency would have 1-2 market movers. In fact typical case would be “my mom bought all my tokens in exchange for indulgently priced better tokens”
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Heh,
@Archivd is running precisely such a closed, illiquid token currency for his young son out of a cookie jar. That idea but broadened.Show this thread -
Hehe, my theory of polyglot microservices money might run into demand problems https://twitter.com/vgr/status/1267499651638280203?s=21 …https://twitter.com/vgr/status/1267499651638280203 …
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