"The reason gold was used as money more than granite is no longer relevant." I disagree. Yes moneys are stories, but they are not arbitrary stories. The money-winners eventually emerge due to possessing very specific characteristics.https://twitter.com/TusharJain_/status/1009926106504400897 …
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Replying to @MustStopMurad
$ETH is aiming to be more usable *overall* not just as a dapp platform. Every blockchain is making a tradeoff in the scalability trilema. Pretending that$BTC isn’t is fooling yourself and others. It cannot exist as a global, decentralized, highly secure SOV w/out L1 scale.3 replies 0 retweets 5 likes -
Replying to @panekkkk @MustStopMurad
> "The money-winners eventually emerge due to possessing very specific characteristics" This of course suggests that gold emerged as winner due to its *intrinsic* props [like its malleability and conductivity] - not props bequeathed to it by human preference. A false assertion.
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Replying to @Dexter_Valkyrie @panekkkk
No. It's because it has the highest stock-to-flow ratio. Other people can't easily inflate the supply. This makes it great for wealth preservation.
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Replying to @MustStopMurad @panekkkk
I can't name any other. And it's not because there's no other, as absence of evidence doesn't equal evidence of absence. Gold happened to be the first ancient metal identified with that property. First Comer advantage, basically, and folks settled on that.
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Replying to @Dexter_Valkyrie @panekkkk
There is only one major object with significantly higher stock-to-flow ratio than Gold. Bitcoin.
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Replying to @MustStopMurad @Dexter_Valkyrie
I can go create an ERC20 token tomorrow with higher ratio. Again, fixed supply does not on its own create value. Demand needs to come from elsewhere. So it comes down to the right mix and score across various fundamental properties. And that’s where we find room for disagreement.
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Fixed supply is *one* of 7-8 desirable properties.
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