Post
Topic
Board Economics
Re: Medium of Exchange vs Store of Value - and effect on BTC worth
by
Impaler
on 08/12/2013, 08:19:51 UTC
anything from precious metals, to fine art, to wine) are neither inherently secure nor backed by anything.

I never said for a moment that ONLY currency has store-of-value, I've simply been contrasting cryptographic Fiat with National Fiat.

All the things you mention are REAL assets, NOT forms of FIAT, they are not what anyone in this thread has been talking about untill now.  I even offhandedly said earlier that pegging a unit of Fiat currency to a precious metal was one (archaic) form of backing so I would obviously consider the darn metal itself to be a store-of-value.  I'm arguing that FIAT currency needs backing for it to be a store-of-value, as without that you simply do not have any stable basis for a value and thus a poor store-of-value.