btw gold is immutable, so irrespective of what happens - nuclear winter, emp blasts, the second coming of our lord and saviours - whatever
it'll still be around, it'll still be valued.
12k years of history is nothing to scoffed at. The US only moved away from this like 70 years ago... but that's another conspiracy for another day.
I agree π―. Gold isn't going anywhere, it will remain a store of value into the future and Bitcoin isn't going to devour it.
Bitcoin will devour most of the other monetary premiums in the market, like housing, bonds and stocks etc.
yeah and that's where I think the core devs see the value in on-chain data I guess. One only sees memes and jpeg spam, others see smart contracts or mortgages etc.
but then again, it's just taking off one wheel and putting on another, what changes? you replace fiat with bitcoin and still do fiat things, but just with bitcoin?
This is what I'm not having a hard time getting over since I realised this
Like all things, power and money corrupt absolutely. The new Core Devs don't have a big stack like the earlier ones so are poor (relatively) and incentivesed to corrupt the code for money.
If Bitcoin/Hard money replaces fiat, (it probably won't - people are addicted to free money), you can't do fiat games with it. You can only spend once - the same as gold. All this imaginary wealth the boomers have built up evaporates. The stock market, housing bubble.. it's illusionary wealth. That's what you are missing. Wealth accumulation goes to those who work (pow). Those shitty jobs no one wants to do, get some because they earn the most.
Letβs see what happens with this upcoming Fort Knox audit. Any negative feedback could push more and more gold bugs to switch to a commodity that gets audited every 10 minutes. I wouldnβt say gold is going to be completely devoured by Bitcoin, but it will lose a few limbs.π¦
Yeah, gold has completely failed as money. But it will still survive due to it's physical nature. Good luck to those moving across borders though, that will hurt up your anus. π
