[hokus]

Your thoughts are clear and interesting. It appears we've always had a ratio of 1, 2a and 2b with some collapses or perhaps even more illusive is the [slow] migration. Like paper gold, man-made diamonds or the private entity stops acting on behalf of the government and ends up owning it.

[lisper]

I think you replied to the wrong comment. I'm guessing you meant this to be a reply to:

https://news.ycombinator.com/item?id=20216673

In any case, thanks for the kind words.