That's fair and fine if you are speaking to a classical economist....but when you are trying to explain these complex concepts to a broad audience, like you very often do, it is important to simplify even further. Especially if you are a Bitcoin advocate. Crap money is not money. Sound money is money. I strongly believe we should move away from referring to dollars as money if only for this purpose alone. Also there is a very strong school of thought, no less than from @jack himself, that Bitcoin must become a MoE to succeed. Resigning our fate to saylor-esque / fed / BlackRock views that the dollar will not / should not be replaced as a transactional medium is likely selling ourselves short. Now...would you like to zap me in sats or cents?