"The stability of the purchasing power of monetary Bitcoin under a Bitcoin standard cannot be judged by observing the behavior of the price of pre-monetary Bitcoin under a fiat standard” (page 95)."
I used this on a colleague of mine and he was forced to admit it, changing his position from "Bitcoin doesn't have the properties of money" to "Bitcoin doesn't have the properties of money, right now"
I used this on a colleague of mine and he was forced to admit it, changing his position from "Bitcoin doesn't have the properties of money" to "Bitcoin doesn't have the properties of money, right now"
A small win, I guess.