Overvaluation of any asset hinders its long term success. You want people who are capable of patience over vast periods of time to be able to get a price that is fair in that context, over a generous window. If overvaluation lowers the chance of a return over a 10+ year period, you’re fending off the smart money.
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Goes without being said, but this is precisely why crypto/stablecoins are important. Regardless of their adoption in any dimension, they’re a check on power and a wedge to preserving the properties of cash in a digital world.
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Thought experiment: if after today, the only information you can access is from before today, would you enjoy the internet (and the world in general) more or less. There’s definitely more out there than one could ever consume in a lifetime.
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