IF and when decentralized digital currency become mainstream, Bitcoin will be an SOV. It will not be considered a MOE. Anyone who understands CC on a basic level will never say Bitcoin is a MOE. If one says Bitcoin is a MOE, they do not understand Bitcoin. Im not sure what you're trying to say about USD. USD is a terrible SOV. They do not belong in the same sentence. MOE's are typically the most common commodity found in a society. Considering the USD is nothing more than a promise to pay debt note against USA assets, that should speak volumes. This is an interesting statement. Debt forgiveness has happened in many creative different ways since the beginning of time. Inflation is the modern stab at debt forgiveness.
Of course it is a medium of exchange. It's purpose is to store value through spaced and time to be exchanged for something else in the future. Anything that stores value can be exchanged for something else.
The reason currency works making gold obsolete is quite simply there is a limited amount of gold. Gold is obsolete as a currency but not obselete as an asset. There simply isn't enough gold to go around to work as a currency. The industrial revolution is what has changed the dynamics of currency. You add value to a natural resource. This value is represented in dollars. With machines we now add far more value to natural resources than before industrialization and there just isn't enough gold to keep up. Currency is an asset but not an investment
SOV in the context of what? Are you someone who buries their money? Part of what makes the USD a great MOE is its lack of volatility in the short term, which means it hold its value. What set this off was I declared that the USD was a great currency and then we went down this rabbit hole of “well 50 years ago the USD was worth ‘that‘”. On the other side, it’s important for money creation in an expanding economy.
You're exactly right about the stability of currency. Its not just short term, the dollar has been holding its current value for ten years at least. Its stability is based in being the MOE of the world's super power. If the US falls apart tomorrow, you have bigger problems than the dollar
concur the greatest investor of modern time, over the past 60 yrs, has been Warren Buffett, the Oracle of Omaha. his claim to fame has been value investing; his co, Bershire Hathaway, BRK, buys under-valued assets. An $1K investment in BRK at its inception, in the early 1960s ,is now worth ~ $1.6 Million in 2018, Buffett had offered this blunt assessment of Bitcoin "....I see “no unique value” in bitcoin...... after reaching its high of $ ~ 20,000 in late 2017, it then proceeded to lose ~70% of its value ....It is a delusion, basically, probably rat poison squared. ....It attracts charlatans, ....”https://www.cnbc.com/2019/02/25/warren-buffett-says-bitcoin-is-a-delusion.html
