That makes fiat an efficient trading token (as I pointed out), not an efficient store of value (collectable).
A store of value is meant to retain its long-term purchasing power. That's why its a "store".
Discussion
My argument is that people don't care how efficient it is, as long as it's liquid enough.
Poor people, maybe.
They're poor compared to an average person in the US, sure. How does it negate their reasoning?
It doesn't.
Their behavior says nothing about what they think is a SoV because they don't really store anything.
Might be the clearest demarcation of the divide between rich and poor. Rich care most about SOV, poor about MOE.
Bitcoin (assets) are money for the rich, the dollar (fiat) is for the poor. That’s why if you trade your bitcoin for dollars, they say, “HFSP!”
Yeah, gamblers and poor people trade in hard assets for currency. Rich people just accumulate assets and largely ignore price movements.
They're thinking past the currency collapse.
We're basically completely out of fiat. Have enough for 3 months expenses and the rest is in appreciating assets.
We're done being poor. 😂