Pure social constructionist view of money is absurd.
Reason gold persisted is unforgeable scarcity.
See @NickSzabo4 Shelling out: https://nakamotoinstitute.org/shelling-out/#money …
If money/ stores of value were just socially constructed stories, there would be no Gresham’s Law. https://twitter.com/TusharJain_/status/1009926106504400897 …
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Replying to @ChetanChawla @NickSzabo4
Gold's initial attraction was scarcity as well as ornamental use. However, as societies turned mobile and.modern, usability dropped and Gold significantly underperformed other investment assets. Neither it sustained as currency. Usability is very important.
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Replying to @TRUE_CHAIN @ChetanChawla
Usability is also far from an arbitrary social construct.
6:56 PM - 21 Jun 2018
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