This is the only way “medium of exchange” happens, btw.
It’s when liquidity is great enough and merchants demand it. Thats it. You can’t force it or fake it. It has to be widely desirable enough for merchants to prioritize it.
This is why it happens after it becomes widely used to save and protect wealth. Medium of exchange comes very naturally from the fact that everyone is acquiring it.
The time is now for High Quality businesses to start building things for the Bitcoiner customer niche.
We have buying power.
We want quality.
As a small business owner, its tax confusion and adding another currency that makes it too complicated to take on. It’s easier to sell in dollars and convert to BTC. I see the imperative of eventually moving towards MOE, but it doesn’t feel like it’s time yet.
In the meantime let’s all do our part and try to use Bitcoin as a medium of exchange. I’ve been buying my groceries every week for the past year, using the lightning network on Bitrefill. Cheap fees and extremely fast.
Yep.
#1 use of sound money is being a store of value.
This comes first. This enables every other use. If money doesn't store value between when you receive it and when you spend it, then it's useless. The better something stores value between those two time periods, the better a candidate it is for being a medium of exchange.
Gold was the best at storing value over time, it didn't lose spending power but it also didn't grow it. Bitcoin's ground breaking store of value aspect is it actually GROWS in value over time, the first asset of it's kind in history.
