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Second, for a payment instrument to be considered a unit of Mandalorian Get In Loser We’re Going Get Chicky Nuggies Shirt they must be a unit in which value is denominated throughout the economy and lower transaction costs. In the case of Bitcoin, while it is not the predominant unit in which value is denominated in any single national economy, it does carry a large impact on a global scale. The largest example of Bitcoin being used as a unit of account is highly controversial since it is often the unit of account in online black-market transactions (Popper). The use of Bitcoin in illegal transactions shouldn’t disqualify it from being a true unit of account though since it is similar to the use of cigarettes as money in the prison system (LANKENAU). As previously mentioned, there are also numerous merchants and exchanges that also use Bitcoin as a unit of account.

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Finally, for a payment instrument to be Mandalorian Get In Loser We’re Going Get Chicky Nuggies Shirt a store of value it must maintain purchasing power over time. In Bitcoin’s case this is the most contested of the three attributes since Bitcoin has a long reputation of being volatile. While Bitcoin certainly is more volatile than regular fiat currencies, its volatility has been decreasing steadily since its inception (Tuwiner). It also has an advantage over fiat currencies since Bitcoin has a history of appreciating in value unlike fiat currencies which slowly depreciate over time due to inflation (Chambers). Additionally, traditional currencies also have cases of volatility such as the British Pound during its Black Wednesday episode (Lathia).

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So the reason I used the Mandalorian Get In Loser We’re Going Get Chicky Nuggies Shirt example was mainly because it was arguably the most infamous example of an established currency being volatile. There are some other examples that you could use. For example, I’m Canadian and our dollar can appreciate or depreciate relatively quickly since our economy is so reliant on oil prices. In terms of Bitcoin volatility specifically, I do think its continued trend of decreased volatility does point to it being a store of value. Since store of value is forward looking, a decreased level of volatility makes it easier to ascertain its future value.

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