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If followed, ultrasound.money would be in trouble too >> This isn’t just a technological shift—it’s a heretic moment. The collapse of scarcity, the emergence of collaboration, and the dismantling of linear time challenge everything we’ve held as true.
Very interesting take. I have been thinking about this too. RM has become a very active writer lately with great reads.
> If followed, ultrasound.money would be in trouble too I don't necessarily agree. Money has many functions [1] "How Is Money Used?" 1. Money As a Unit of Account 2. Money As a Store of Value 3. Money As a Standard of Deferred Payment 4. ... (there are more actually) I think Bitcoin has 2. Store of Value really down. This is what I see the article criticize. But the "Ethereum is (ultra) sound money" goes beyond how Bitcoin defines it. E.g. I use 1. Unit of Account and 2. Standard of Deferred Payment when I collateralize my ETH on Aave and borrow USDC against it. Ethereum's compute and data storage is valuable. I pay it in ETH and IMO we're not far enough yet where I can pay in any tokenized currency. Within Ethereum we also account in ETH for all rollups and adjacent applications [2]. That said, if as an Ethereum developer I account for the eventual costs I will have to make my programs execute onchain then I also have to consider the future cost of gas and if I may not stock up on Ether today. So I think about Ether in terms of 1. Unit of Account and 3. Standard/Unit of Deferred Payment. - 1: https://www.investopedia.com/terms/m/money.asp - 2: https://www.youtube.com/watch?v=qdCUbOvukDE
this part was amazing > If tokenized systems allow anything to be exchanged for anything, if agents optimize for collaboration, and if time itself becomes nonlinear, then the concept of storing value starts to crumble. Storing value assumes scarcity and a singular timeline—both relics of the world Bitcoin was designed for. > In a tokenized, agent-driven economy, value isn’t something you hoard—it’s something that flows, reshapes, and adapts. The internet, with its fragmented timelines and tokenized ecosystems, doesn’t need scarcity. It thrives on abundance.