"once something is desirable as a store of value, people will want to be paid in it" gold is a SoV but I will take USD over gold any time despite being a worse SoV. you can't have good MoE without a good payment system, which is why people work on both
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Replying to @astrocytew @mdudas
Gold was desirable as an MoE for 5000 years. It has since been demonetized. 60 years ago you would want Gold not poer
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Replying to @MustStopMurad @mdudas
and it no longer is despite being a better SoV than USD. i trade MoE and hold SoV; good SoV properties is not nearly sufficient for good MoE
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Replying to @astrocytew @mdudas
you can have both but SoV should take precedence.pic.twitter.com/UNY9iniqY3
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Replying to @MustStopMurad @mdudas
nah USD is a bad SoV yet good MoE. they're different functions for which you require different properties; no point in muddling them together for no reason other than creating confusion and motivational monologues
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Replying to @astrocytew @mdudas
Absolutely wrong. All money is SoV MoE and UoA to different extents. Thinking that SoV and MoE are “separate” is a common mistake.
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Replying to @MustStopMurad @mdudas
yes, I said USD is good MoE and bad SoV, while gold is an arguably better SoV and a worse MoE. i didn't say they're not both... you're trying to make MoE a consequence of SoV which is obviously wrong. you can have SoV that is hard to transport and perfect otherwise
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Replying to @astrocytew @mdudas
My Point is a cryptocurrency can be good at all.
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Replying to @MustStopMurad @mdudas
my point is that the part i quoted is inaccurate, and that part serves as a wrong premise for the rest of the monologue i.e. it unjustly downplays the importance of payment systems and belittles those who focus on "not important" / "cool perks" aspects. good SoV ⇏ good MoE
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Focusing on cool perks before the SoV / security components is like trying to fly before you know how to crawl.
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