0 sats \ 1 reply \ @siggy47 13 Jul 2023 \ parent \ on: Opinion: Why BTC can't become the reserve currency bitcoin
Lots of things may evolve. First of all, I doubt more and more bitcoin will be lost in the future. Custody options will improve, and more care will be taken to secure bitcoin as it becomes more precious. Also, a whole new debt based system may arise, similar to the gold receipt IOUs of the past.
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0 sats \ 0 replies \ @_stacktoshi 13 Jul 2023
And some of the IOUs were copied and can be again, but I suppose programmable money and sidechains can help fix that.
To play devil's advocate about precious items, those tend to have substitutes, so it will be interesting the psychological effect it has on those who lose it.
And there's almost like a reverse Cantillion effect while the rest of market assumes there's X supply while you (and whoever you tell) know it's X - whatever you lost, meaning that you can get deals on things.
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