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Do you think GOLD was stable 9 years after it was first discovered? Of course not!
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No but it wasn't a store of value and likely wasn't a means of transaction either. But most importantly - gold's market cap 9 years after discovered wasn't $200B in 2018 dollars.
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That’s not the point, the point is that Gold wasn’t super stable until full adoption and full monetization as money.
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And also, it *was* a store of value since time immemorial in the form of jewelry and ornaments which are a form of a SoV. And it Was also a Medium of Wealth transfer (infrequent MoE) Recommend Szabo on this: https://nakamotoinstitute.org/shelling-out/
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Bitcoin isn’t a MoE yet either, it’s not even a full SoV yet, but it’s getting closer to being a SoV as it gets bigger, more liquid, more saleable, which it had throughout last 9 yearspic.twitter.com/2uBvAWQRyu
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this chart is wishful thinking - right now the use case is greater fool speculation and even those volumes have been going down all year.
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why are you so short termist? have you only got into bitcoin in late 2017? last 6 months look shit, but if you zoom and and look at the graph since 2010 it looks incredible!
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you’re not thinking on a long enough time horizon. Zoom out!
End of conversation
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