Deflationary in what sense?
But it's Holding (the longer the better) which is what makes currency accrue value. Spending doesn't make it accrue value, if anything, too much spending can hurt value accrual. And if believe it has potential for 1000x I'll hold on for dear life, not spend :)
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means of payment != medium of exchange value transfer != value storage :P value storage = price increases value transfer = not neccessarily price increases if velocity is high
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Inflationary properties incentivize spending for short term holders. Annual rewards up to 2% of the circulating token supply incentivize those same holders to stake their STORE to power/secure/scale/govern the protocol -- if they want to work. Optionality (and savings) for all!
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Of course, we want to you to hodl and stake for the long-term -- bonuses for tenure and up-time shall be generouspic.twitter.com/4rIPV002Rc
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Got it. That makes sense
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We're starting to think through how long-term staked supply can be used in ways approximate to how banks use deposits. For protocols, use cases are stability, ecosystem growth, etc. Nothing official; just thinking about it.
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We're designing through payments now. The goal of the design is to make it very explicit and simple for the merchant/developer to discount products if the user pays with STORE. In this environment, the merchant makes money accepting STORE and the user saves money paying in it.
End of conversation
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Economic value is derived from moving money. A pure store of value creates little economy outside of speculation. Usage creates demand, which secures value.
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This is a really myopic view Economic value is not derived from one single use case, of say moving it around. I can move Bitcoin back and forth between addresses all day, that does not necessarily make it valuable.
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That is not what I meant. By moving I mean actual use, spending it and by doing so create value. Who is going to move money if that creates no value?
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If I move a certain asset, let’s say as an investment, and this will create more value over another asset used, demand increases as well as incentive to spend. It creates value on both sides, which allows it to be inflationary, MoE and SoV.
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Capitalism occurs when people can save money, aka accrue capital, in order to put that money to good use in the future. Spending is not creating value, but it _can_ create value. Saving can _allow_ you to spend money in the future on something that adds value (or not).
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Economic value is therefore derived from many things. The foundation of capitalism is the ability to preserve and accumulate wealth (sound money is great for this purpose) in order to put it towards valuable uses in the future.
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I think you said what I said with more words. I don’t disagree with you.
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Cool. Yes I think we do agree. Here's some other thoughts I have from our conversationhttps://twitter.com/patmillertime/status/1023013277519888385?s=19 …
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