30 sats \ 9 replies \ @Satosora 25 May \ on: The Paradox of Bitcoin Adoption bitcoin
What nonsense did I just read?
Without sarcasm, I'm genuinely interested in why do you consider it nonsense. That answer is actually useful for me, please express yourself.
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Yes, I'm not arguing against that.
I'm just talking about adoption, never saying that bitcoin will not have value.
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No. Bitcoin is volatile today, yet it has value. What I'm saying is that that condition will remain true, as it is now.
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Remember that that assumption implies:
- First, that the fiat monetary base will stop augmenting, in which case, fiat currency will stop devaluing and thus become as robust as bitcoin, hindering its adoption, so back again to the paradox.
- Second, that bitcoin will gradually replace fiat for exchanges (otherwise, if liquidated en masse -possible because the fiat counterpart will still exist- can still suffer extreme volatility at any point regardless of value) so that fiat stops being a liquidable counterpart, a deprecation process that yet again implies extreme volatility, which while already damaging by itself, will add for sure the hands of the state to the matter.
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