Your statement regarding “Gold is not used as money in any form” is nevertheless false, though
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Replying to @MustStopMurad
The keyword is "anymore", you missed it. Small groups of people do not count.
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Replying to @yevgenydevine
$3Trillion+ worth of monetay premium is non-trivial. The entirety of India, among many other cultures, use it as a store of value.
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Replying to @MustStopMurad
Again, it's a modal fallacy. You keep talking about gold being a store of value, while it's entirely unrelated to gold being used as money today. It's not.
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Replying to @yevgenydevine
You are confused. Money is many different things. It’s a store of value, medium of exchange, a unit of account, a bearer instrument, a commodity, coinage, debt instruments and generic objects of value. Perhaps you mean cash or currency.
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Replying to @MustStopMurad
No, you simply have your information all over the place, unstructured. Money is money, SoV is SoV, MoE is MoE, UoA is UoA, etcetera. Fine art is a store of value, but it's not money. Apply logic to avoid time wasting.
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Replying to @MustStopMurad
It's 'n' unit of "X" that serves as a medium of exchange, a unit of account, and a store of value, all three.
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Replying to @yevgenydevine
I think I understand where you are getting at. You’re saying if people simply sit on a cryptocurrency and don’t *use* it, it won’t have any value. So even if we keep majority of our wealth in it, we should spend/consume/receive/put into circulation at least a minority of it ...
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Replying to @MustStopMurad @yevgenydevine
... to contribute towards it’s success. and global takeover. If people won’t use it actively, cryptocurrency will never win. Am I understanding your thesis correctly?
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For it to be valuable, people need to demand it as payment for their work/products/services.
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