You don't use fiat as money. You use it as a currency. No one saves in it.
In the us you save in harder assets like the 500 or real estate
You're confusing it because were in this 50 ish year abberation where the functions of money are split
Discussion
there's always been different monies.
there have been different cultures that use different things
they come together and have to work it out...
The world is complicated.
that there should be ANY agreement about what to use either as MOE or SOV is a *modern idea*
and it's just a theory.
claiming that it's "like physics" is ridiculous.
That's not true at all. Money absolutely converges and cultures who use the weaker form either adapt or die
You can have bounded areas where someone with a monopoly on force can dictate a currency for limited amounts of time. But all trade outside of that requires a trustless asset.
but having those bounded areas rubbing up against each other is the status quo.
not some sort of homogenous whole.
ie, nobody uses Bitcoin for spending either.
When I say the physics I'm literally talking about the physical characteristics that bound the possible outcomes over time.
A asset with 4% growth in supply will have more of it in the market than something with 2%
Doesn't men's people won't use the first thing. Just that eventually everyone ends up using the harder asset. Because cetris paribus people making the wrong choices will lose the purchasing power.
Looking at moe and sov an arbitrary moe will never replace the sov. But eventually the people with the sov will not accept the weaker moe if there's no one left to make the trade for the sov.
And if the sov was something that had poor moe functions you could argue the reverse (real estate not going to replace dollar) but bitcoin moe is pretty damn good.