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21 sats \ 2 replies \ @CruncherDefi 17 May \ on: Bitcoin will never replace fiat bitcoin
fiat usecase which is as a short
I think you are missing important piece. Fiat is short instrument for privileged elites*.
Bitcoin gives option to easily short fiat to everyone. If asymmetry is eliminated why bother still keeping fiat? If asymmetry is eliminated everyone (including privileged elites) is better off with a simpler system.
== *Privileged elite on the planetary scale. >90% of humans cannot buy real estate or stocks.
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0 sats \ 1 reply \ @SpaceHodler OP 17 May
Bitcoin gives option to easily short fiat to everyone.
To short fiat you need access to fiat credit. I don't think the average person in a developing country can take out a fiat loan to buy bitcoin.
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10 sats \ 0 replies \ @CruncherDefi 17 May
I'd argue that simply holding bitcoin is being short fiat with neutral 1x leverage. Fiat credit allows for higher >1 leverage shorting.
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