FWIW, my bet's on MV = PQ sticking around within #crypto with iterative extensions including some of those already put forth by @alexhevans @sall @wintonARK @sbmckeon and more (no disrespect to Jimmy here at all).
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2/ Everyone's welcome 2 their own opinion rn, the models + market will tell the truth over time. If MV = PQ proves a valid way to analyze the economies of #cryptonetworks, as it has proved useful in physical economies, then that will materialize clearly through the research & #'s
3/ As an identity, MV = PQ is a relatively harmless mathematical tool, fits nicely with mapping money flows, and dimensioning both the supply & demand sides of an economy.
4/ To begin, MV = PQ is overly simplistic, and that's where I believe extensions from Baumol-Tobin, Queueing Theory, Treasury Mgmt, etc etc, will come in & be tested over time. Equity valuations have grown to be enormously complex from relatively simple roots 🙂
5/ I'm also excited to see all the things we can learn & apply to #crypto from 100+ years of work surrounding MV = PQ and the Quantity Theory of Money. Lots left to dig up.
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