From: janburse@fastmail.fm   
      
   The Deutsche Mark is nice example, because   
   it was also a currency globally used.   
      
   Before the switch to the euro, the   
   Deutsche Mark was the largest international   
   reserve currency after the United States dollar.   
      
   After the switch from Deutche Mark to   
   Euro the impact was around 25%, it now   
   dropped to 20%, what concerns foreign exchange   
      
   reserves. But this is only foreign exchange   
   reserves, if you look outside of foreign exchanges   
   reserves I find (according to ChatGPT in 2023):   
      
              M1             M2   
   USD       2.3 trillion   21 trillion   
   EUR       1.6 trillion   15 trillion   
      
   So the gap is smaller between USD and EUR.   
   What about crypto, like BTC and ETH?   
      
              M1             M2   
   ETH       $526.5 billion ?   
   BTC       $193.6 billion ?   
      
   But there were rumors of "paper BTC",   
   and thus M2 crypto money. EU is currently   
   working on Markets in Crypto-Assets   
      
   Regulation (MiCA). Not sure whether the   
   idea would be to forbid M2. But M2 looks   
   like a logical development of any   
      
   currency that is used in a enconomy with   
   value creation. So while cripto was initially   
   peer to peer payment, it might have already   
      
   been evolved to something else with new   
   technologies such as Stablecoins, DeFi   
   Platforms, etc.. Idioyncratic especially   
      
   MiCA seems to dream a dream of Stablecoins   
   pegged to a fiat.   
      
   Mild Shock schrieb:   
   > Example of a currency that disappeared:   
   >   
   > In 1999, the Deutsche Mark was replaced   
   > by the euro; its coins and banknotes remained   
   > in circulation, defined in terms of euros,   
   > until the introduction of euro notes and   
   > coins on 1 January 2002.   
   >   
   > Similarly BTC can be replaced by a crowd   
   > event. You will just see people selling   
   > their BTC and buying who knows what,   
   >   
   > DOGE, SOL, etc.. The better coins with   
   > unlimmited supply. It will happen when   
   > there is an impasse in BTC because it is   
   >   
   > limmited. The problem is only it seems   
   > BTC is not only an M1 currency, it might   
   > already appear in books and become an   
   >   
   > M2 currency. Then, well, it could be even   
   > easier to get rid of it. This was all   
   > exercise also with Deutsche Mark.   
   >   
   > Physfitfreak schrieb:   
   >> On 10/8/24 05:38, Mild Shock wrote:   
   >>> No, no, it will crash. Believe me!   
   >>>   
   >>> Physfitfreak schrieb:   
   >>>> On 10/7/24 21:15, Mild Shock wrote:   
   >>>>> Don't forget to buy other coins, Bitcoin has   
   >>>>> limited supply, it will soon be a historical   
   >>>>> footnote. Everybody knows, there are better   
   >>>>   
   >>>>   
   >>>> You're just jealous. You probably sold too soon.   
   >>>   
   >>   
   >>   
   >> Not that long ago it came down to $16k. If by that you mean "crashing"   
   >> then it's something natural about bitcoin. It'll go back up later.   
   >>   
   >> Bitcoin has a lot of uses as long as banks can stop paying your money   
   >> back to you for bogus reasons.   
   >>   
   >> Bitcoin cannot get "frozen."   
   >   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)