If gold was easily divisible, instantly verifiable, had a known limited total supply, and could be sent and received globally over the internet with no middlemen, then the gold bugs might have a point.
Discussion
Gold would be pretty cool, if it was Bitcoin.
💯😂
Reminds me of this Satoshi quote:
"As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties: boring grey in colour, not a good conductor of electricity, not particularly strong, but not ductile or easily malleable either, not useful for any practical or ornamental purpose, and one special, magical property: can be transported over a communications channel. If it somehow acquired any value at all for whatever reason, then anyone wanting to transfer wealth over a long distance could buy some, transmit it, and have the recipient sell it."
DUDE! THAT WOULD BE SIIIIIIIICK!
Before Fiat Gold was a bitcoin.
Pre 1970.
Bitcoin would be pretty cool, if it was like at silver price, more cheap SATs
But still early...
Put this on a tshirt.
Need someone to make a meme out of this with the scene of Saruman and Wormtongue
Exactly! But then it wouldn’t be gold, it would be Bitcoin.
It gold had those properties, fiat wouldn't have taken over.
I think they complement each other, btc is more portable and easier to store, gold is a little more anonymous, blackout-resistant, and rather pretty.
Both are excellent monies which might be a clue as to why they're rather easily driven out by bad money.
I for one will always accept both as payment, as well as other precious metals.
Local markets and bartering need to make a major comeback.
If gold could do all that, we wouldn't need Bitcoin. But it can't, so we do. The properties matter more than the material.
Nothing gets by you.
Dumb idea
We can never have a known supply unless we know the total supply in the universe🤔