Gold was money for thousands of years, read up on the Gold Standard. Gold was a SoV, an MoE, a UoA and stable simultaneously
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It's precisely because it's inelastic that Bitcoin is valuable. Fundamentals haven't changed. Human nature and human desires are still the same.
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I don't buy the distribution argument. Bitcoin's Gini coefficient is the best in the cryptocurrency space and is improving after each boom and bust. Bitcoin whales sell some to newcomers after every cycle, improving the distribution.
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Replying to @MustStopMurad @adam3us
People who identified the future winning money early deserve to be rewarded. "Faircoins" will not work and will not neccessarily be valuable. Bitcoin is not about equality, only about uninflatability & unseizability.
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If the wealthy countries and people of the world will use, accept and value Bitcoin, then Zimbabweans *will* accept them for their goods and services. Value is subjective. Bitcoin is the hardest money ever invented.pic.twitter.com/oTXjh23Atl
3 replies 3 retweets 11 likes
https://www.basis.io (something like this could be a temporary solution before BTC is stable)
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