This is another common misconception: that the value of Bitcoin/gold is *purely* social. A big part of it is social, but to get there, the monetary asset needs to have the required properties first. Most importantly, unforgeable costliness. Other reqs exist such as portability.https://twitter.com/belowsearcher/status/1046486502954463237 …
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Replying to @hugohanoi
Re portability: it has two aspects: security against theft/siezure and transmittability. I think former is *much* more important. The primary use of SoV is transfer of value through time. Transportation through space is secondary.
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Replying to @real_vijay
Agreed. I would also venture to guess that: unforgeable costliness > portability (which includes both security against theft/seizure and transmittability) So there’s an inherent order (of importance) to these things.
7:41 PM - 1 Oct 2018
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