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> In late phases of the transition, there will be very few people willing to trade crypto for fiat. How many people are left without crypto? How do you envisio

by yunohn 5y ago

> In late phases of the transition, there will be very few people willing to trade crypto for fiat. How many people are left without crypto? How do you envision this scenario playing out? > In late phases of the transition, there will be very few people willing to trade crypto for fiat. Given that supply is limited, how do people transition sustainably? If the supply is only hodlers, they obviously don’t want fiat. Why is anyone exchanging for fiat once the transition is certain? > But the truth is that all desirable possessions are this way But currency is a tool, not a “desirable possession”. It shouldn’t be limited to niches of the real world population. Not everybody needs beach front property, but they do need money. > I hope for the former and fear for the latter. As one prepares for this future, what is the expected usable value of the coin they are hodling? How do you know if you have enough for when fiat is worthless? Should one own a full Bitcoin? More? Less?

eric_cc 5y ago
The further we transition to crypto, the more people will have the option to be paid in crypto for their jobs. In this way, nobody will be "left without crypto". People with life savings in fiat that refuse to transition will be the clear losers. Sadly, I think it will be elderly that do not understand crypto and have never questioned currency that have the most to lose here. > But currency is a tool, not a “desirable possession”. So people don't desire to possess $1,000,000? This is clearly not a truthful statement.
- yunohn 5y ago
  It’s very telling that you’re ignoring half of my questions in every response. > People with life savings in fiat that refuse to transition will be the clear losers. Who is forcing them to transition? Is it the government? Why did the government change currencies to crypto, without aiding their citizens? > Sadly, I think it will be elderly that do not understand crypto What about normal people? What price and coin do you suggest I buy, and in what quantity to prepare myself for this future? > So people don't desire to possess $1,000,000? While I don’t deny that people like large numbers on their bank statement, the goal of owning so much currency is to exchange it for products and services. They don’t care if it’s USD or BTC, as long as everyone else accepts the same. What they will care about is when you tell them that you have to exchange fiat for BTC/etc at a volatile price with built-in deflationary mechanisms. Again, you’ve ignored my question about supply and how to sustainably on-ramp the entire world populace into crypto.
  - eric_cc 5y ago
    > It’s very telling that you’re ignoring half of my questions in every response. I've enjoyed this thread but I can only provide it so much time and effort. Hopefully, you will find other sources to help answer your questions. > Who is forcing them to transition? Is it the government? Why did the government change currencies to crypto, without aiding their citizens? Free markets & will-toward-freedom forces the change. In theory, governments could accumulate crypto now and airdrop it to citizens later. > Again, you’ve ignored my question about supply and how to sustainably on-ramp the entire world populace into crypto. There is no such God-like control over this transition. I've clearly stated that I don't believe it will be pretty and equitable. It will be messy and chaotic.

by yunohn 5y ago

eric_cc 5y ago

The further we transition to crypto, the more people will have the option to be paid in crypto for their jobs. In this way, nobody will be "left without crypto". People with life savings in fiat that refuse to transition will be the clear losers. Sadly, I think it will be elderly that do not understand crypto and have never questioned currency that have the most to lose here. > But currency is a tool, not a “desirable possession”. So people don't desire to possess $1,000,000? This is clearly not a truthful statement.

yunohn 5y ago
It’s very telling that you’re ignoring half of my questions in every response. > People with life savings in fiat that refuse to transition will be the clear losers. Who is forcing them to transition? Is it the government? Why did the government change currencies to crypto, without aiding their citizens? > Sadly, I think it will be elderly that do not understand crypto What about normal people? What price and coin do you suggest I buy, and in what quantity to prepare myself for this future? > So people don't desire to possess $1,000,000? While I don’t deny that people like large numbers on their bank statement, the goal of owning so much currency is to exchange it for products and services. They don’t care if it’s USD or BTC, as long as everyone else accepts the same. What they will care about is when you tell them that you have to exchange fiat for BTC/etc at a volatile price with built-in deflationary mechanisms. Again, you’ve ignored my question about supply and how to sustainably on-ramp the entire world populace into crypto.
- eric_cc 5y ago
  > It’s very telling that you’re ignoring half of my questions in every response. I've enjoyed this thread but I can only provide it so much time and effort. Hopefully, you will find other sources to help answer your questions. > Who is forcing them to transition? Is it the government? Why did the government change currencies to crypto, without aiding their citizens? Free markets & will-toward-freedom forces the change. In theory, governments could accumulate crypto now and airdrop it to citizens later. > Again, you’ve ignored my question about supply and how to sustainably on-ramp the entire world populace into crypto. There is no such God-like control over this transition. I've clearly stated that I don't believe it will be pretty and equitable. It will be messy and chaotic.