4 ms·
> has been tried and tested in the form of gold standard and deemed not satisfactory. I believe the comparison is unfair: - Gold can't be transfered in un
by ur-whale 6y ago
> has been tried and tested in the form of gold standard and deemed not satisfactory.
I believe the comparison is unfair:
- Gold can't be transfered in under 10 minutes halfway round the planet
- Gold can rather easily be confiscated
- Gold is very hard to subdivide to tiny quantities
- Gold can easily be "faked", especially for tiny amounts.
- Gold's supply is not really finite
- [edit]: carrying 100kg of gold across a border is - to say the least - problematic
- beefield 6y agoThose have very little to do with monetary policy (https://en.wikipedia.org/wiki/Monetary_policy https://en.wikipedia.org/wiki/Monetary_policy) Plus, in the modern credit-money world, an IOU from a bank worth 1 BTC, IOU worth one ounce of gold and IOU worth $1[1] have precisely same technological properties and limitations. [1] A.K.A "Money in your bank account"
- paras2594 6y agoI do believe these statements as the best way anyone could have defined. And when it comes to Buying Bitcoin over gold https://www.buyucoin.com/buy-bitcoin-india https://www.buyucoin.com/buy-bitcoin-india this is the apt choice