Right. So what becomes more like money?
That thing that people are buying *only* to hold to
in value?
Or that thing that has greater utility for spending, gives them more network connections to spend w/ (think Metcalfe’s), produces yield when holding to offset inflation?
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Yah but what if you attract both? These are really loose analogies anyway and obviously from an investment perspective you don’t really care if SOV happens first or simultaneously lol. Thinking of it purely from an economic future perspective.
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from an investment perspective you want pure SoV first =) pure price appreciation :P good money driving out the bad price skyrockets continuously before ppl start spendin
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All else being equal I don’t know that I agree because that somehow assumes that MOE detracts from SOV which may not be the case. More people using it increases awareness and could be more attractive to investors.
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temporarily it does u want people to hoard BTC and to "spend" something else like fiat this would ensure maximum speed of BTC price appreciation
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Maybe but are we still early? Maybe investors are turned off by the fact that 9 years in no one is spending it. It certainly makes headlines. I don’t necessarily disagree just offering some counterpoints.
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I see your point but I don't think Bitcoin is about payments It's about uninflatability and "scarce digital preciousness" at least for now it's revolutionary that central banks cant print more btc that's why we are obsessed with fixed supply :)
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If Ethereum has geniuses in financial engineering like Alan Greenspan, then it would become like the dollar which dominates despite being printed heavily. The key to dollar expansion was distribution and market share ( $100 Trillion capital markets ). MOE reinforces SoV
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“MOE reinforces SOV.” Well said.
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spendability of ETH but some inflation + greater utility/network connections/network effects greases the wheels.
Granted these are all assumptions. It’s possible that LN takes off and more connections form in BTC but that seems less likely.