Another great concept from The Bitcoin Standard by nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak
"As money is acquired not for its own properties, but to be exchanged for other goods and services, its purchasing power is important, not its absolute quantity".
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The money - itself - is not the thing of value.
Money merely REPRESENTS that which has value in economic activity.
So the question is not “what’s the most valuable money?”
The question is “what medium best fills the role of representing that which has value?”
Great point!
When thinking about "what medium best fills the role of representing that which has value", this medium needs to be something that cannot be easily mass produced (e.g. fiat), something that maintains its value into the future, and something that can easily be exchanged across time and space.
With the options we have today that fulfill these requirements, Bitcoin is the one that exceedingly fulfills all 3 of these requirements.
đź’Ż
We want, classically, something durable, fungible, divisible, portable, and scarce.
For myself I would then say that a medium having those properties will lead to said medium being selected by the market as the chosen money, which will in turn lead to said money maintaining its purchasing power over time, or, “holding it’s value”.
Saying the same thing at the end of the day 🤝
