And when the medium of exchange is sanctioned to allow the payment in taxes, it has then become the standard. Gold has been authorized as a medium to be used in contracts and payment of taxes in the state of Utah, so why not a crypto currency?
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I'm not saying it can't only that there is more to it than Scarcity, Utility. In fact Scarcit it not even required and the utility is actually the function of money. It allows you to carry paper instead of goods to trade with. Now we have digital currency which is even easier to carry. Unless we ever get hit with a massive EMP and the digital world is wiped out. Then we will go back to heavy physical good most likely and real estate to determine wealth.