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94 sats \ 2 replies \ @Tehila 25 Jan \ on: Where does Eugene Fama think currency gets its value from? econ
Gold is not used as MOE, and clearly hasn't "imploded". Moreover, it is not POSSIBLE for gold to become a better MOE than it already is, because its limitations are inherent.
Bitcoin, on the other hand, seems to work fine as a store of value, AND has the benefit of being improved through innovation and technology. Therefore it could someday be a (better) MOE.
In other words, Bitcoin is already "money" but isn't (yet) "currency".
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21 sats \ 0 replies \ @SimpleStacker OP 25 Jan
That's my thinking too.
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0 sats \ 0 replies \ @Solomonsatoshi 25 Jan
Money is used to settle trade and exchange- Bitcoin is rarely used in this way. While technically it may be money, in theory capable of MoE utility, if it is not used as money (for MoE) it is rendered more akin to a speculative commodity which is how it is seen, and used, by most users today.
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