Money is special because it’s the only asset that can be used to purchase goods and services. If I have a pile of 10 year Treasury bonds worth $500, and I want to buy a TV, I have to first convince someone with $500 in cash that they’d rather have my bonds than buy their own TV.

No thats not true.

It operates under expectations - the more liquid the asset, the more likely you'll be OK with accepting it in the context of a trade. The discount is for illiquidity.