If merchant platforms don't use a currency as a medium of exchange, I don't think it can become a unit of account.
3T+ it will be a decent SoV 10T+ it will be a decent MoE 20T+ it will be a decent UoA No incentive to spend before the new money becomes huge. Hoarding incentives.
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A Ponzi scheme will collapse before it becomes huge. Accepting a currency or converting fiat into it to make purchases doesn't require spending your long-term investment. You can accumulate it and simultaneously use as a medium of exchange.
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Why do you think gold acquired it’s monetary premium?
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Physical intrinsic value, rareness and scarcity, ease of control, and a lot of propaganda.
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There is no such thing as intrinsic value, only subjective value. You might mean “use value”, and in that case, silver’s use value is far more extensive that Gold’s. Propaganda had nothing to do with it. Gold was consensus beause it had the highest stock-to-flow ratio.
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Meaning it was the hardest to get out of the ground compared to the amounts that already exist above ground. That is all that matters.
End of conversation
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