If you can pay in gold, now that will be interesting.
Gold is the money of the states, as a constitutional right. If states will have an income in gold they will be more inclined to pay things in gold. Which will create a gold standard.
What about Bitcoin? Bitcoin has no intrinsic value. Which will make it hard to be a store of value. And no, the fact that Bitcoin yielded a higher profit for investors these past years, doesn't make it a store of value. only a good investment.
🤣
Turn on your zaps so I can zap you in gold
😂
Zap
You can zap in a 1000 shitcoins. I don't think the ability to zap is a proof of anything.
Digital proof of ownership of Gold hasn't been developed. The legal framework also hasn't been there for years.
If the two would compete, gold and Bitcoin, which do you think will win?
They are competing and while gold is currently winning (measured by market cap as a proxy for monetary adoption), Bitcoin has been eating its lunch for ~15 years and is catching up from that 1000s of years head starts pretty quickly.
Bitcoin is currently sitting right at its ATH vs Gold.
Inherent value doesn't exist.
All value is subjective.
Certain characteristics make different things better for monetary purposes. If you want to compare the monetary properties between the two, it's not close.
Define “intrinsic value” and how gold has it.
I would define intrinsic as an objective property that makes something desirable for consumption.
Gold is shiny, which makes people want to wear it.
Gold is both electrical conductiv and doesn't rust which make people want to use it in electrical devices
Neither of those utility aspects gives gold its qualities of sound money.
there is no such thing as objective outside of mathematics
bitcoin's immutable supply schedule is an intrinsic and has value too
"intrinsic value" is a property of everything, it just depends on who you are whether that is a negative or positive value
shit has an intrinsic value too... to plants and bacteria
intrinsic value. What an unimaginative argument circa 2012.
Bitcoin has already proven itself to have value through PoW.
If you don't understand that by now - You need to re-evaluate how you arrived here.
Gold will never be able to achieve what Bitcoin already has.
You need to do more reading.
This guys gets it, when people use the term intrinsic to make an argument I automatically default to you don't know what that word means do you
What does intrinsic value mean?
Does algebra have intrinsic value?
Does calculus have intrinsic value?
Does computer science have intrinsic value?
Does code have intrinsic value?
Does public key cryptography have intrinsic value?
Does AI have intrinsic value?
Does game theory have intrinsic value?
Does silicone have intrinsic value?
Does electricity have intrinsic value?
So you’re saying, because your money is consumed instead of used as store of value it makes it a superior store of value? It only makes the standard less hard and the signal less pure. Aspects you also face from mining and paper gold. The ideal sound money reasonates perfectly with the market without the distortions you see in gold.
Ignore it or ask chat gpt to argue like a Austrian economist so you can privately explore the perspective.
Value is subjective and gold has a utilitarian value, but that's not what made it good money.
