SoV = store of value (or wealth), MoWT = medium of wealth transfer, MoCE = medium of consumer exchange. This terminology is more illuminating, especially for cryptocurrency, than the traditional SoV/MoE distinction.
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The value of Bitcoin as SoV, MoWT, and in future via layer2 MoCE is indeed based on its strong & seamlessly global security vs. double-spending, censorship, etc. & prospects for better key management, not on merely economic measures like price and volatility (which will adapt).https://twitter.com/BIGbenStew/status/1009868186890752001 …
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Exactly. And those advancements in layer2 don't slow economic evolution. They accelerate it. Better key management is just icing on the cake.
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Better key management is at least as important as a good layer2, but otherwise yes.
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Agreed. Exciting!
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Bitcoin can be good Sov and MoWT onchain, but layer 2 would encounter same security (mostly unsolved) issues centralised systems face today.
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