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It can be trivially changed in the sense that it's a computer program that simulates money. No amount of consensus can increase the gold supply.
by root_axis 6y ago
It can be trivially changed in the sense that it's a computer program that simulates money. No amount of consensus can increase the gold supply.
- nmlnn 6y agoTechnological advances can increase the gold supply. Asteroid mining, extracting it from sea water, mining lower quality deposits, etc. There still has to be consensus on using gold as money, if there isn't it will lose its monetary premium to something that has better monetary properties.
- modeless 6y ago> There still has to be consensus on using gold as money This is a great point. The choice to value gold as currency over other rare metals is 'a cultural property of the community' and yet not 'trivial' to change, just as Bitcoin's consensus isn't.