You're right that "aggregate market preferences might still gravitate towards state-issued fiat in politically stable context".

I don't think any Bitcoin maxi has denied that the nation state has been a very powerful, albeit relatively recent phenomenon in human history that represents the current equilibrium. And to a great extent its power is derived from its ability to issue fiat.

This is not the point anyone argues with.

What maxis say is that this equilibrium was a local maximum which is destabilized by the rise of truly decentralized money. Bitcoin, over time, “reduces the capacity of the world’s nation states to determine who becomes a Sovereign Individual […] and liberates the holders of wealth from expropriation through inflation.” (from The Sovereign Individual).

It will thereby introduce a new operating system for the world, which transcends the current nation state model.

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I think you’re misreading my point. I *am* saying the equilibria lies within the state-based model. I’m not saying it will win because states are powerful. I’m saying it will win because people want states, and for those states to have certain powers — like enforcing rule-of-law and managing economic stability.

Actually Mike, any model be ones false cored when, when fake news, and thus not really only question of laws ruling, but also scientific fact of life which somehow becomes self evident when origin is corrupt or unknown, rendering a false cored construct where structural integrity implodes to become a cannibalistic Borg scenario.

🤡

Random access memory, but corrupted when false cored and broken.

💌

Don’t worry about nothing, agent keen.

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