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0 sats \ 0 replies \ @Brunswick 17 Jun 2022 \ on: Can Bitcoin move to being a store of value, medium of exchange, and unit of account simultaneously? bitcoin
Once its accepted as a store of value, the value will stabilize, this will precipitate the other two aspects. I see them all coinciding simultaneously, but the second two are dependent on the first. It is inflation that presses and enhances the perceived value of bitcoin. It's the early-adopter demonstration of its ability to be a medium of exchange that is presently sealing the long-term value of bitcoin.
The medium of exchange role is being accelerated by governments and politics having control over banks and censoring individuals by financially imprisoning opposition leadership and organizations. The fiat note is being associated with tyrrany and political persecution, and bitcoin emerges as the most obvious weapon to fight this corruption.
Bitcoin as a unit of account cannot emerge until its widely accepted value stabilizes. This is why the price has been fluctuating wildly and being stifled by wallstreet big-money which is controlled by international old-money financiers.
Today's instability is intentional market manipulation through investment in unstable leveraging endeavors like UST, shitcoins and all the others. We are beginning to see the strings in front of the curtain. The black wizard of ooze (petrodollar) is pulling every possible lever to keep the bitcoin market in chaos. The machine is overheating and beginning to smoke. Supply chains, wars, gene-edited disease, political oppression, riots, these are all orchestrated to maintain control over the money.