Nick Szabo  🔑

What do you think of Mises’ idea that an asset could be a common store of value first and then (because its commonly owned, divisible, etc) become a common medium of exchange?

Economists' terminology is misleading though since "store" of value is impossible without benefit from transferring that value. Can be rare large rather than frequent small wealth transfers, so we might translate this as "large value transfers first, small value transfers later."

Nick, Gold has maintained its store of value and most of its transfers are in the form of jewelry. Few if any goods and services are bought with gold. I realize the Bitcoin network needs to scale but is there a chance people are overestimating how much is actually necessary?

The holding of gold is much easier to discover and violate (take the gold from the holder) than it is for than well-key-managed Bitcoin.

Furthermore, Bitcoin is far easier and less expensive to transport and transfer around the world.

Even gold is being tokenized to become more accessible and easier to transfer through a digital presence, see @RoyalMintGold

Money is an informal token of reciprocal altruism (Dawkins). The Technology money helps to organize and scale societies by better solving the prisoners dilemma.