"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
Brendan Bernstein Retweeted Brendan Bernstein
Brendan Bernstein added,
Brendan Bernstein @BMBernsteinBut but my USD is so useful and I can use it as "fuel" for US taxes, soul cycle, business expenses and IPOs. Why has gold gone up 6x in price vs USD since the 70s? Clearly "usage" is not the *most important* factor of a store of value. Tattoo that on your brain. https://twitter.com/rogerkver/status/1009838387409240064 …1 reply 0 retweets 2 likes -
Replying to @BMBernstein @MustStopMurad
No one said usage is the most important. Usage / acceptance as moneyness / network effects — whatever you want to call it — is one additional property that can tip the scales in favor of a neo-money if other properties score similar.
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Replying to @panekkkk @MustStopMurad
What is the most important to you then?
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Replying to @BMBernstein @MustStopMurad
Good question. That’s hard to answer because many of the top 8 or so properties are important and synergistic so hard to give props to any one.
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Replying to @panekkkk @MustStopMurad
But you admit that usage isn’t the most important? So what’s more important?
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Replying to @BMBernstein @MustStopMurad
Obviously usage is important. Without it, BTC or any money are nothing. Assuming we mean usage broadly. Probably need to clarify what we mean by usage.
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Replying to @panekkkk @BMBernstein
Panek which do you think is the *single* most important quality for SoV/money in the digital realm?
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As a *store of value*, I expect that 1 unit of currency today stays the same throughout my lifetime.
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No, I mean which fundamental characteristic (not desired result)
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Oh that is clearly fixed in supply.
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