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40 sats \ 2 replies \ @fourrules OP 4h \ parent \ on: Is tokenisation a bad word in bitcoin maxi circles bitcoin
I don't think you're really fully considering the implications of a bitcoin standard and what it means for debt markets. I mentioned student debt because it's clearly a market distorted to the point of breaking, and an alternative tokenised model will clearly take over.
Debt markets are inherently about the future, and anything that involves future payouts, including equities, involve trust. You can use a Russell conjugate with the phrase "trust me bro", but there is no way out of trust.
A bitcoin standard will blur the line between what is inside and outside the US financial system.
I think you're thinking 2-5 years out, and I'm trying to speculate on 20-50 years out.
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0 sats \ 1 reply \ @grayruby 4h
Yes I am speculating more in the next decade or so. It is hard to predict what will occur over the next 20-50 years.
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20 sats \ 0 replies \ @fourrules OP 4h
I don't think it's hard to predict. If you look at what happened in deregulated securities markets it's easy to predict what would have happened if they weren't able to debase the denominator. Those securities markets would have just dominated debt markets and generated a huge variety of financial instruments for extremely niche situations that involved asymmetric information, and those would have been packaged and sold as derivatives over time.
We live in a world polluted by motivated reasoning so basic speculation feels difficult, but it's really not.
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