For millennia, #gold has been a stable store of value for humanity.
So, kudos for that. 💪
However, now that the Digital Age has arrived, we must ask the following question:
IS GOLD A COMPARABLE STORE OF VALUE TO BITCOIN?
** See the answer key (chart) below. **
Gold lost to paper in the 19th century. It has no chance against #Bitcoin in the 21st.
The trend has nowhere to go but up..
ONE COMMODITY'S MONETIZATION IS ANOTHER'S DEMONETIZATION. ON A LONG ENOUGH TIME HORIZON, IT'S ALL JUST A TIRESOME A/B TEST - BASIC HUMAN PSYCHOLOGY. FEW UNDERSTAND THIS.
Curious, Dr. Jeff do you believe there is the correct amount of gold in Fort Knox?
I have no special insight or information about this... so I don't have a worthwhile opinion.
Centralization killed gold.
In order for gold to be used efficiently as a medium of exchange, banks needed to hold the bulk of a user's supply. That way a system of 'trustworthy' paper checks and reciepts could be issued by the holder to the user.
This allowed the user to make quick purchases, both large and small.
Of course, when the bank issued more paper than they held in gold, the results spoke for themselves.
That gold support in the chart is pretty impressive though. But when it's finally broken...
