We’re at the store of value stage and won’t become a medium of exchange until venders prefer it. Customers will always prefer to spend their worse monies first. This is the Gresham / Thiers laws in economics.
techfeudalist on Nostr: Money progresses sequentially through three stages: store of value —> medium of ...
Money progresses sequentially through three stages: store of value —> medium of exchange —> unit of account.
We’re at the store of value stage and won’t become a medium of exchange until venders prefer it. Customers will always prefer to spend their worse monies first. This is the Gresham / Thiers laws in economics.
We’re at the store of value stage and won’t become a medium of exchange until venders prefer it. Customers will always prefer to spend their worse monies first. This is the Gresham / Thiers laws in economics.