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63 sats \ 1 reply \ @jgbtc 11 Mar \ on: Saylor says Bitcoin is Capital not Currency bitcoin
It's both, which is the whole, correct, point of Parker's article. Gold was money. Minting (standardizing supply, weight, and unit by a trusted authority) made it currency. Gold coins were property, capital, and currency. So is Bitcoin, except the trusted authority is the system itself. The standard unit (currency) is inseparable from the money. It's all combined together which is why people have a hard time understanding this.
I wonder if gold faced as much resistance by plebs as there is against Bitcoin. Logically, wouldnt gold need to have been a good MoE before it became a store of value?
With Bitcoin, it seems the opposite, almost as though it needs to prove itself as a medium of exchange.
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