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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.

Ben Justman🍷 7mo ago

Turn on your zaps so I can zap you in gold

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Discussion

aco 7mo ago

😂

negr0 7mo ago

Zap

Peace K 🪙 7mo ago

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?

Ben Justman🍷 7mo ago

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.