Pretty much every new technology starts out this way. I assume this will be no different as it matures and secures.

I consider those fiat. And they're hardly different than what we've already had for years in banking

Fiat is probably closer to that concept if you think about it.

It's crazy how fast nature will take something back.

Your attempt at drawing a distinction doesn't at all change my original intent. Racism is for cretins, and that's exactly what you're espousing. Skin color or otherwise.

Good point

I have considered the implications of having most transactions on a second layer though. I'm undecided on that issue. And it's impossible to know either way how it'll play out.

I was attracted to Bitcoin as a SoV. And I still think it's the number one thing that underpins value for me. It was only after that I wanted to transact with it as well because that's more efficient.

But I think this is probably influenced by where you are, geographically and economically. I don't ultimately think either comes before the other. They're both equally necessary if we want something that's better than fiat AND gold (the current status quo). Someone in a place like NK, South America, parts of Africa or whatever probably value the exchange part more initially.

It's easy to get wrapped up in a own perspective I think. Where some people are advocating SoV, people somewhere else are focused on MoE.

You could argue the dangers of one culture gaining way more influence than the other, of course. And that may indeed be the case. I don't know. This is as far as I've thought about this issue.