it is likely inherent for any commodity money that it must have a production cost. think about gold and what made it a good money for 6000 years, before the fiat experiment: you could NOT print it without expending effort to mine it. ie doing work. gold IS physical proof of work.
@fulgorsedano6 @adam3us Low production cost doesn’t equal sound money, that’s for certain. What in life has value that doesn’t take work to attain?
@fulgorsedano6 mr market fixes that. no more production effort will be expended than there is demand for, as anyone irrational would go bankrupt extremely efficiently. consider that vs the horrors of central planning and 25% annualized M2 expansion. hyerpinflation doom-cycle in the making.
@fulgorsedano6 @adam3us High production cost = store of value if production cost gets exceedingly higher High transaction cost ≠ money NFTs have values because they are rare events in high production cost industry (gas fees, knowledge...), newer NFTs get increasingly cheap as they get less rare.