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Leo
@lsn
It’s easy to forget how recent nation state currencies are as a concept. In the UK, the Bank of England only became the exclusive printer of bank notes in 1921. And in some parts of the country, 6 commercial banks retain the right to print their own notes. Reminds me of the myriad stablecoins on offer: both try to reflect the value of something else, like gold for notes or the dollar for stablecoins, and both are technically fungible with each other, but only with a large amount of friction. This gives stablecoins network effects, but historically centralisation has won out as a triumph of convenience and standardisation.
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xh3b4sd ↑
@xh3b4sd.eth
The human capacity to consider something normal is absolutely bonkers. It could start to rain pigs right now and by next week everyone would be, yap, that's how it is.
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Leo
@lsn
Adaptability important part of the human condition isn’t it!
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