"Store or Value is a prerequisite for it to be a Medium of Exchange." and "store of wealth function is a derived and not a necessary function of money" cannot both be true.

Otherwise, something could be a money without being an MoE and, at least according to Menger and Mises, this isn't possible.

If your position is that you disagree with them then ok

Reply to this note

Please Login to reply.

Discussion

I think the contradiction is surface level.

Something can be a store of wealth and not be money. Eg. real estate.

Money is by definition a medium of exchange, its "primary function."But not everything can be money. Value is a prerequisite, just like divisibility, fungibility, etc.

Yes, and the argument is that Bitcoin more resembles digital real estate

Menger/Mises are saying the exact opposite of your last point. According to them store of value *is not* a prerequisite for money. But if you think they are wrong that is okay.

I think you're missing the context of that quote. Anyways, I think what I think.