Oddbean new post about login | logout Pretty much, or whenever they sell they’ll get bitcoin scrips issued for the kyc system
Then fiat wins....
not if the sheep burn down the cities along with the server farms holding the secrets
That won't happen.
the specific causes maybe not but the general causes have happened and led to many collapsing urban settlements think of detroit, for one, a modern example... there are other, many other smaller places that have been abandoned over history because of economic reasons and it will happen again while the same principles are in play
the imperial cycle will apply, we are at the end of the age of the british empire, which i consider to have arisen out of the time that gave us the Statute of Monopolies and yeah that renaissance thing the influence of jupiter and saturn on us cannot be underestimated... specifically, creating a 400 year economic cycle that unravels an empire that has grown corrupt the last cycle also started with much the same influences, that gave us the reformation and the printing press and all that stuff, that is now at an end, and the systems that built on it have become overwhelmingly rotted