Eynck on Nostr: Historic day, indeed. They agreed on a value for Bitcoin. Can’t accept a MOE ...
Historic day, indeed. They agreed on a value for Bitcoin.
Can’t accept a MOE without it having value though. Value comes first or else it was a free pizza, which it was not.
You’re totally right that it was, and still is, volatile. This is why it won’t be a MOE for the world until it’s proven itself and people all CHOOSE to hold it from its value proposition.
Let’s not think that people would flock to a new money just for it to be a medium. People have a medium already and it works fine, especially to normies.
It’s only the value proposition that will make people hold Bitcoin, globally
Then you get to that salability which you correctly call out. Then it can slowly become the main MOE.
Then, after everyone uses it already, we can measure things value with it globally
Emerging money is accepted as having value, traded and then used as a unit of account in that order simply because it has to.
Can’t accept a MOE without it having value though. Value comes first or else it was a free pizza, which it was not.
You’re totally right that it was, and still is, volatile. This is why it won’t be a MOE for the world until it’s proven itself and people all CHOOSE to hold it from its value proposition.
Let’s not think that people would flock to a new money just for it to be a medium. People have a medium already and it works fine, especially to normies.
It’s only the value proposition that will make people hold Bitcoin, globally
Then you get to that salability which you correctly call out. Then it can slowly become the main MOE.
Then, after everyone uses it already, we can measure things value with it globally
Emerging money is accepted as having value, traded and then used as a unit of account in that order simply because it has to.