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."
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