101 sats \ 0 replies \ @Majjin 13 Sep 2022 \ parent \ on: Daily discussion thread
I pretty much agree with everything you said but one:
Bitcoiners have largely abandoned the "digital cash" narrative (to their own detriment).
I personally believe that leading with "digital cash" was us jumping the gun. Understandably so, since Bitcoin was initially designed to be digital cash and people tried to use it as such. The monetization of any asset seems to follow certain stages and most people, especially early Bitcoiners, weren't all that versed in Austrian economics.
The stages of monetization seems to go like this:
  1. Collectible
  2. Speculative Asset
  3. Store of Value
  4. Medium of Exchange
  5. Unit of Account
We were saying Bitcoin was at step 4 when we were really at step 1.
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