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A gold standard is a tool used by a central banking authority to promote stable prices. A bitcoin is actually designed not to be controlled by a central moneta
by nateberkopec 15y ago
A gold standard is a tool used by a central banking authority to promote stable prices.
A bitcoin is actually designed not to be controlled by a central monetary authority.
So, of COURSE Bitcoins aren't the new gold standard. That's like comparing apples to giraffes.
- dpatru 15y agoThe aim of both the gold standard and bitcoin are to limit the power of governments and banks to defraud their citizens by forcing them to use fiat money. > gold standard is a tool used by a central banking authority to promote stable prices. This is the wrong way to look at it. The reason for central banks is to allow banks/governments to devalue/print money, i.e., to deviate from a gold standard.