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Exactly this. The precursor was Szabo's bitgold [0]. Also, the feeling in the community has always been that bitcoin would remain as the gold of the cryptos, us
by joeyspn 11y ago
Exactly this. The precursor was Szabo's bitgold [0]. Also, the feeling in the community has always been that bitcoin would remain as the gold of the cryptos, used as both money and a commodity with some industrial applications.
[0] http://unenumerated.blogspot.com.es/2005/12/bit-gold.html http://unenumerated.blogspot.com.es/2005/12/bit-gold.html
- digi_owl 11y agoMeh, i hold that what made gold money was the face stamped on them to verify they were of a certain weight. Straight gold without it is a questionable commodity as the usage, at least for the time, was ornamental at best. But once measured up and stamped you had an item that would not lose its weight much over years of storage (even it if was down a hole or at the bottom of a lake etc). What made it money was not the metal itself, but the process.