@dandolfa I believe very strongly that the claim that money is a "Store of Value" is one of the great errors of monetary theory. Of course money must have some such capacity to be useful; but that is just another way of saying that it mustn't be too perishable to be a convenient MofE. 1/
@dandolfa The idea that money is distinguished by its capacity to serve as an SofV is false. The best SofVs are typically not MofEs, and when these differ its the MofEs that are regarded as money. 2/
@dandolfa Suppose I _Defined" a car as (1) a means of transportation, and (2) a store of value. That double-barrelled definition would enhance our understanding of cars in the same way that the common double (if not triple) barrel definition of money has enhanced our understanding of it 3/
@dandolfa Namely, not a bit. On the contrary: we might be listening today to bitcoiners telling us how its only a matter of time before bitcoin solves the transportation problem!
