Replying to Avatar dern

to play devil's advocate: has gold failed as a monetary good? it is not used in payments on a daily basis, and is most commonly thought of as SoV. i would strongly argue that gold has not "failed" by any means.

you know i love you and appreciate your work uncle!

but, i think that sometimes these "bitcoin fails if xyz" are reductive and subjective (ultimately)
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szarka 7mo ago đź’¬ 1

I think it's fair to say that gold is a monetary asset, but not *currency*. Nor is any currency tied to gold today. As the basis for an international monetary system, gold had its brief day in the sun, but government corrupts everything it touches…

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dern 7mo ago

to my mind, currency is a country-by-country standard

is bitcoin "currency"? i would argue that bitcoin and gold are in the same camp re currency, that being, relative to something else (i.e., usd)

i could pay a bitcoiner for goods/services with utxos, just like i could pay a goldbug for goods/services with gold coins. what is the difference?