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mleku | 6 months ago (raw) | root | parent | reply | flag 
 if it wasn't, then how did whiskey and rum become moneys at certain times, and why is tobacco a currency in prisons where money is forbidden

these are emergent moneys that were adopted out of need for a money, that used stores of value (all durable goods are inherently a store of value)
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doot | 6 months ago (raw) | root | parent | reply | flag +1 
 bitcoin was a great MoE in the silkroad days, when arguably it was more important as a MoE than SoV. 

as long as bitcoin is worth >$0, it can be used as money, it does not need to be worth more to do this. 
but bitcoin is rarely used as money anymore.
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mleku | 6 months ago (raw) | root | parent | reply | flag 
 well, in those days the payment use case was more viable due to the relatively low transaction demand thus the expensive use case, payment, was viable

this is now becoming unviable and shitcoinery is making it more unviable, but we have LN and ecash to help shift payments off chain without weakening the security of the base layer
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mleku | 6 months ago (raw) | root | parent | reply | flag +1 
 in this respect, bitcoin's evolution is a bit different from most kinds of commodity money because it is also an accounting system
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Hazey | 6 months ago (raw) | root | parent | reply | flag 
 Words and analogies used to describe bitcoin come from a pre-bitcoin era and are therefore inherently lacking.
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6e70253f | 6 months ago (raw) | root | parent | reply | flag 
 SoV is just MoE in the future.