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Achilles · 27w
Store of value —> medium of exchange —> unit of account. In that order. Always has been. If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.
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Schroedinger @Schroedinger
According to Rothbard the store of value function is derived from the medium of exchange function. When a money is widely accepted people are willing to store it cause they know they can buy things in the future.
This would make it
Medium of exchange -> store of value -> unit of account
Thoughts?
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Achilles · 27w
People don’t store money because they can spend it tbh. My pov is that they spend it because they trust it will still store value tomorrow. Which would proof my perspective. PV 🤙🏼
mobuktu · 4w
For Bitcoin it has to be store of value first because otherwise what would all the hodlers do that have no intention and no clue to ever do anything with it.