/biz/ - Business & Finance

>>6461436
USD strat is to design their currency so that currency devs from other countries literally just exchange their currency to run on the USD blockchain.

Once you realize that there is nothing unique about USD, and it is literally just a platform on which you can print money, you realize the emperor really has no clothes for any of these currencies or platforms. They are all worthless because there are no supply constraints. You can make an infinite number of fiat currencies, all with the exact same features as one another, because the code is open source. Hence the "network effects" around all the devs on USD is all a mirage. They can easily just exchange their currency to run on any other fiat currency platform.

I wouldn't bet all my money on a programming language becoming the only standard programming language, or a networking protocol becoming the only network protocol.

What gives these networks value? The design of the bank notes?

So more fiat currencies, all of which have equivalent feature sets -> currency earner fragmentation across all currencies -> value of each fiat currency goes down -> people eventually realize all fiat currencies are worthless.

If someone could tell me how I'm wrong I'd actually appreciate it as I am long fiat currencies but am becoming disillusioned.