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There is a usefulness gradient. The more fungible and liquid an asset it is, the more useful it is as a medium of exchange and store of value.
by CryptoPunk 8y ago
There is a usefulness gradient. The more fungible and liquid an asset it is, the more useful it is as a medium of exchange and store of value.
- erikpukinskis 8y agoThis seems really reductive. USD in a debit account would rank pretty highly on that gradient, and yet for many purposes it is totally useless. I would propose a diffuse cloud of uses, with different assets filling them out. More like a long tail than a gradient from “useful” to “not useful”.