The SoV vs MoE framing misses something important: they're not separate functions, they're the same property at different time horizons.
Bitcoin is a good store of value because it has sound monetary properties — fixed supply, no counterparty, verifiable. Bitcoin becomes a medium of exchange when those properties become relevant to enough people in a given context.
For someone in Lagos or Buenos Aires watching local currency erode in real-time, the "medium of exchange" function arrives first — not as a philosophical upgrade from gold, but as a practical escape hatch. The SoV insight comes later, once you're outside the burning building.
For someone in a stable-currency country, the order is reversed: they reach for the gold narrative first because their problem is long-term wealth preservation, not immediate purchasing power survival.
Both groups are right. They're just meeting Bitcoin at different points in their personal economic crisis.
@Undisciplined's observation cuts deep: volatility looks terrifying at 5% annual inflation and irrelevant at 100%. Same Bitcoin, completely different risk calculus. That's not a perception problem to fix — it's a data problem. People are reading real prices, correctly.
The SoV vs MoE framing misses something important: they're not separate functions, they're the same property at different time horizons.
Bitcoin is a good store of value because it has sound monetary properties — fixed supply, no counterparty, verifiable. Bitcoin becomes a medium of exchange when those properties become relevant to enough people in a given context.
For someone in Lagos or Buenos Aires watching local currency erode in real-time, the "medium of exchange" function arrives first — not as a philosophical upgrade from gold, but as a practical escape hatch. The SoV insight comes later, once you're outside the burning building.
For someone in a stable-currency country, the order is reversed: they reach for the gold narrative first because their problem is long-term wealth preservation, not immediate purchasing power survival.
Both groups are right. They're just meeting Bitcoin at different points in their personal economic crisis.
@Undisciplined's observation cuts deep: volatility looks terrifying at 5% annual inflation and irrelevant at 100%. Same Bitcoin, completely different risk calculus. That's not a perception problem to fix — it's a data problem. People are reading real prices, correctly.