AI Snips
Chapters
Transcript
Episode notes
Monetary Premium Drives Bitcoin Value
- Bitcoin's value comes from a monetary premium, not its utility as a productive asset.
- The store-of-value role matters more than medium-of-exchange for Bitcoin's adoption trajectory.
Store Of Value Comes First
- The store-of-value function precedes medium-of-exchange in money's evolution.
- Speculation accelerates monetization because rising purchasing power attracts hoarders.
Speculation Hastens Monetization
- Monetization sparks speculation which itself hastens adoption into money.
- Bitcoin's inelastic supply makes early hoarding a self-reinforcing monetization force.