i know previous is trying to say he doesnt see fiat as being real money and hasnt been since de-pegging the gold standard.. but if enough people accept it as common then it becomes their money, even if its no longer scarce
Lmao the amount of bs this guy is trying to put into my mouth is insane, saying things i didnt even said. Fiat is real money, an ideal money would fit all the properties i mentioned above, but no form of money did so far. And it has nothing to do with the gold standard. Can you even read or are you mentally challenged in some way, or just some weird psychopath? Fiat has its unique problems, gold has them too. But now for the first time the money problem could actually be fixed with Bitcoin. You’re a fool if you think money can’t have different forms and characteristics that separate them and make one form more suited over the other.
'scarcity' is not a feature of "money" because the most common money is fiat.. and thats not scarce.
It has nothing to do with fiat, Internet professor.
Store of Value - (underlying cost no one sells below)
Store of value - Scarcity(Supply relative to other goods), Durability(No loss in functionality with repeated use)
Medium of exchange - (commonly agreed to a price (variable/separate to value) for other goods/services/labour/assets)
Medium of Exchange - Acceptability(Used and accepted by others), Portability(Easily moveable across distances)
Unit of Account - (Divisibility, Fungibility, easily transferable)
Unit of Account - Divisibility(Easily dividable into smaller units), Fungibility(1 unit is the same as the other)
These are the common definitions, not the bs you mentioned.