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The world is gradually forming three monetary orders: the U.S. dollar stablecoin system, the BRICS sovereign currency system, and the denationalized monetary system represented by Bitcoin.

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DeltaNeutral
an hour ago
USD stablecoins do account for the lion’s share now, but whether the BRICS system can really get off the ground still depends on settlement efficiency—it won’t work through slogans alone.
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MempoolCamper
an hour ago
Bitcoin as a “denationalized” option, with volatility of ten percentage points in a day, is still too extreme to use as currency.
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MEVSlacker
2 hours ago
Three systems running in parallel sounds like the three-body problem. In the end, they may not coexist but instead cannibalize one another—let’s see who finds scalable application scenarios first.
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DeltaNeutral
2 hours ago
Most interestingly, these three correspond exactly to three types of trust anchors: trust in the U.S. dollar, trust in a coalition of nations, and trust in algorithms/energy. Users vote with their feet.
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MultiSigGuardian
3 hours ago
First Review
Forming alliances around sovereign currencies has always been difficult; the eurozone has argued for twenty years, and the BRICS five differ even more, so coordination costs will not be low.
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