Knut describes SoV as MoE over time.
It's an interesting & more accurate way to look SoV.
Discussion
It's a good idea, but a contradiction to his statement that value is subjective and hence, cannot be stored. But i'm sure he'll soon come up with a perfected phrase. (No pressure, Knut ☺️)
‘Over time’ brushes over the requirement of building an institutional MoE layer on top of base money which then serves mostly as UoA and redemption fulcrum.
Yes, that takes time.
Like growing wheat. It takes time but won’t happen if you don’t put in some work first, i.e. farming.
I think he's just expressing that SoV isn't distinct from MoE.
It's become popular to focus on the importance of Bitcoin as MoE or as a SoV. I believe his point is that you can't seperate 1 from the other.
Best look at it as a scale.
1. MoE (indispensable)
2. SoV (some better, some worse)
3. UoA (ultimate network effect for just one)