The primary use of sound money is as a store of value defending against monetary debasement. The network needs time to grow to support that use case for the entire world, which it slowly does as the world adopts it over time.
Once that function has been fully captured and people refuse to accept anything other than Bitcoin as a medium of exchange will it be used globally in that way.
People are really just being impatient and unrealistic to expect a new technology to replace the entire current monetary system in only the last 16 years. This network is growing exponentially, but even then it takes time to grow to replace the current system when starting from nothing.
> The primary use of sound money is as a store of value defending against monetary debasement.
That’s the dumbest and most economically illiterate thing I’ve read in a while. The primary use of money is exchange. You can postpone exchange to accumulate wealth, therefore you need a store of value properties, but the end game is to spend the money for other goods, be it right now or in the future.
That's the old way, the fiat way. Bitcoin is the perfect store of value system, it's growing adoption, and it CAN be exchanged easily between any two Bitcoiners. Money should have always been a reliable store of value, and now it is.
Thread collapsed
SoV and MoE are two sides of the same coin.
BUT, Bitcoin is not solving a MoE problem. Fiat works pretty well for that purpose.
It IS solving a SoV problem.
Don’t be ridiculous, it’s solving sovereign MoE problem, your fiat money can be frozen and confiscated for whatever bullshit reason you can think of. Try to withdraw large sum of money at once or send a meaningful amount overseas. Or buy something deemed illegal. Honestly guys, stop listening to Saylor and other finance bros, they either don’t get Bitcoin or are not incentivised to talk about it in earnest.
Thread collapsed
Thread collapsed
Thread collapsed
