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37 sats \ 4 replies \ @DarthCoin 10 Dec \ parent \ on: The Fallacy of Store of Value vs. Medium of Exchange bitcoin
fiat money = currencies
Can you call bitcoin a currency? Maybe, if you refer to the BTC you have in a CEX and you trade them for other fiat currencies. You made trading, speculation etc
But when is about going to a grocery shop, bitcoin is simply money. not a currency.
That is because a currency is declared (decree) a legal tender... now we are going back to what really is a legal tender: #744780
Under your definition (remember language isn't by decree either) I agree with you. I just don't think people widely use your definition. I don't think we disagree though Darth. :)
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Until some years ago, when I discovered Bitcoin, I was also very confused about these terms, I was quite ignorant in this matter, even that I tried to step out of the system.
Slowly I learned how to make the difference and also talking with people from the banking sector, how they describe these terms.
For many banksters, Bitcoin is just money. But still do not want to say it in public.
We really need to make this difference and separate from the fiat in all ways possible. Otherwise normies will be really confused.
Most of the people are trying to fit bitcoin into existing financial system. They are wrong. Bitcoin will change TOTALLY the whole financial system. Instead of building same old system around Bitcoin , try to change the whole system to be adapted to Bitcoin.
The perfect stupid example are those fucking "bitcoin visa debit cards". The people issuing them are FUCKING MORONS that do not want the fiat system go away. They literally live in the past.
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That's interesting. The normies I know would use money, currency, and dollars all interchangeably. They have no clue what MoE or SoV are. They are not educated on economics. I mean they know a lot of fallacies of Keynesian Economics but that's mis-information. I try to meet them where they are. I was once where they are and I try to remember that. It can be hard because I'm wired different.
I think most people are followers and question very little around them. I can't change who they are but I can influence them as they have been influenced by the system.
I think we have to adapt the message to the audience so sometimes that means we say things in ways that might make others cringe. That' my approach at least.
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Yeah try teaching this girl basic economics... not talking about what is a currency and how money works.
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