Bitcoin was used as MoE before it had displayed any SoV properties. How do you explain that. Also I don’t believe you to have read any books on Austrian economics that haven’t been written by Bitcoin influencers, and they often are clueless.
Discussion
You cannot have a MOE without it having value
Store of value always comes first for any money in history or else no one would even use it as a MOE.
Frankly I don’t care about your judgment.
GN
I don’t care about your opinion too (which is repeating known talking points) but it denies the reality that the very first monetary transaction in Bitcoin’s history happened when Bitcoin didn’t even had an exchange rate. Then all the trading that happened on Silk Road when Bitcoin was so volatile, the last thing on anyone’s mind that it was something that had a lasting value to be preserved for decades. It simply was the only exchange tool to obtain illegal stuff online. Saying this I’m not denying a good money has to have great SoV properties too. That’s why cigarettes in prison are good MoE but not money. Anyway, I have no time to try and explain this to someone that appeals to authority and doesn’t do any independent thinking or research himself. 👋