1. All secondary functions of money can be deducted from its primary function as a medium of exchange, as Mises and Menger already explained.
2. Without (a chance of) fulfilling this at some stage, #Bitcoin will be just another memecoin without differentiated utility.
3. Probably the last coin to decline into oblivion but decline it will if we don't build and launch what's needed. (Which is Bitcredit Protocol.)
Money is for payments, medium of exchange.
Payments for production and consumption, savings and investment.
Clearly, we must improve Bitcoin for payments, not for hoarding as SoV.
The #1 improvement needed is on volatility.
Volatility has not improved in 10 years.
“It is difficult [for a nation state] to pursue an active economic policy as long as only commercial bills of exchange are permitted as cover for banknote issuance."
I say:
Well, exactly.
