I was surprised to learn this needed to be said. I never saw the theories as competing. It took me some time to appreciate how all forms of money operate as a ledger, but I always assumed that was the case and that I was just slow to figure out how.

Typically, I walk people through how bitcoin is a money by saying, "all forms of money are a kind of ledger ... and many forms of money require you bearing your ledger entry ... bitcoin just cuts the shit and is explicitly a ledger ... a ledger that you can uniquely verify yourself."