If merchant platforms don't use a currency as a medium of exchange, I don't think it can become a unit of account.
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Replying to @yevgenydevine
The graphs don’t disagree with that particular statement. U can’t have UoA without having MoE first. I agree. But, in the same vein, I believe you can’t have MoE without having SoV first.
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Replying to @MustStopMurad
A currency cannot store value if it is totally speculative. That's a Ponzi scheme. If a currency is not good as money, then what value can it possibly have?
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Replying to @yevgenydevine
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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Replying to @MustStopMurad
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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Replying to @yevgenydevine
Why do you think gold acquired it’s monetary premium?
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Replying to @MustStopMurad
Physical intrinsic value, rareness and scarcity, ease of control, and a lot of propaganda.
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Replying to @yevgenydevine
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.
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