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Replying to Avatar techfeudalist

Money progresses sequentially through three stages: store of value —> medium of exchange —> unit of account.

We’re at the store of value stage and won’t become a medium of exchange until venders prefer it. Customers will always prefer to spend their worse monies first. This is the Gresham / Thiers laws in economics.

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Shadowy Badger 1y ago

Vendors will not prefer it without demand. The logic in this post is not sound.

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Boris_Badenov 1y ago

good point

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