Hmm. So i agree with daniel that the primary usecase of money is savings but i dont really get why he excludes spending as a usecase. I would rather describe spending as the last stage of using money, but still count it as using.
"An increase in merchant acceptance, ceteris paribus, does not increase the value of the coin. Therefore, an increase in merchant acceptance does not increase the value of the coin."
I think this is the fundamental confusion.
the reason is that the last stage meaning spending still matters in terms of quality and user experience. the higher the quality the more reason you have to use that money as savings.
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
1BznocN5GBZAtwoNovvDtP2mFnrzyvhTUP VerifiedFor example if i could spend bitcoin as easily as dollars, why even hold any dollars at all? i could fully transition to using bitcoin from start (savings) to finish(spending)