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by JumpCrisscross
3184 days ago
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> the biggest cost to sustaining fiat is the power of the sovereign that backs it up That government and military also safeguards a lot of the economy any financial system, traditional or crypto currency, needs to drive it. In any case, sovereign-less free banking happened [1]. It was replaced for reasons of efficiency. [1] https://en.m.wikipedia.org/wiki/Free_banking |
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