I can't argue that people don't give up on their failing fiat as quickly as one might expect

Undisciplined

No, they continue to trade it but faster and faster — hot potato style. Velocity up, etc, cuz on the margin it's more costly for you to hold cash

ZhangJiao

... Historical record doesn't bear that out. We keep using money weeeeelll into hyperinflation. It certainly fulfils this role in the Western world, covid inflation aside

econ

MONEY CLASS OF THE DAY: Money Illusion and Unit Bias, Bitcoiner style

denlillaapan

Yes-_ish_... Historical record doesn't bear that out. We keep using money weeeeelll into hyperinflation. It certainly fulfils this role in the Western world, covid inflation aside