3 ms·
Your chart shows that velocity of BTC is the same as velocity of USD M2. Is USD not a medium of exchange by this logic? Bitcoin is a replacement precisely for
by monort 9y ago
Your chart shows that velocity of BTC is the same as velocity of USD M2. Is USD not a medium of exchange by this logic?
Bitcoin is a replacement precisely for M2 (base money + deposits), because with a fractional reserve deposits are as much usable as a medium of exchange, as the base.