Hanshan on Nostr: Yeah silver is awesome. Youre just describing consistent demand for a material asset, ...

Yeah silver is awesome. Youre just describing consistent demand for a material asset, not a payment network or money system.
The point stands that it was never global money, it just became one (of many) settlement layer.

And retaining spending power obviously isn't the only important property of a monetary asset.

"Resilience" is a good one. If the network isn't reliable, it doesn't have utility for value transfer. Sometimes we call this "security" and decentralization plays a big role here.

"Transferability" also comes to mind. If someone can't reassign ownership to somebody else, it isn't particularly useful.

And of course, we're all about the ability to reassign value without any third party's consent or knowledge.

Which is just to say,
Manhattan real estate might be a good store of value, it doesn't make it a monetary system.