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"It's not digital currency. It's digital property.... The compelling use case is capital preservation for everyone in the world.... Medium of exchange is only worth a trillion dollars. Store of value is worth a hundred trillion dollars. #Bitcoin is going to embraced as property. It doesn't have to be a currency. Nobody's trying to buy a cup of coffee with a fraction of their building on 5th Avenue.... But every rich person I know owns property in London or New York City or somewhere, and none of them complain about not being able to spend their building as a medium of exchange. The killer application is capital preservation for everybody. The store of value is the killer use case. Medium of exchange is a distraction."

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BTC_P2P 1y ago

Bitcoin is so excellent as a SoV in part bc it is a low-friction MoE as well. Global 24/7 transferability of the monetary unit is a critical piece of the value prop.

Gold is a high friction MoE and 99% of it just sits in vaults. The metal is static and largely so is the price.

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