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That’s the uncomfortable facts to the aspirational blather. It’s a poor enough medium of exchange that people go off-chain even when they do take payments with
by fennecfoxen 5y ago
That’s the uncomfortable facts to the aspirational blather. It’s a poor enough medium of exchange that people go off-chain even when they do take payments with it, it’s an unreliable store of value subject to wild price fluctuations, and if you think anyone in their right mind would use it as a unit of account imagine a mortgage debt denominated in bitcoin and the possibility of owing 10x what the house is worth if the coin goes up.
1 of the 3 economic roles of “money” is partially fulfilled. If that’s still a currency, so is the Confederate dollar.