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> Digital crypto assets like Bitcoin or Ethereum will exist alongside them. Bitcoin can be an asset like gold, of which users keep a portion of their networth t
by daptaq 6y ago
> Digital crypto assets like Bitcoin or Ethereum will exist alongside them. Bitcoin can be an asset like gold, of which users keep a portion of their networth to protect from economic uncertainty.
Seems improbable, as it is far less stable than Gold. From what I see, it is almost never used as a currency, and almost always as a speculative asset. The main indicator for me is that Bitcoin is always measured in Dollars (or some other fiat currency), instead of having some value that it taken to be it's own. Have you ever heard someone say "This bike cost me 0.63 Bitcoin"?
- chillwaves 6y agoAnd how do you measure the value of gold?
- nr2x 6y agoHow much gold only exists on paper? Once people realize there is more in paper than in vaults that stability may evaporate. The Germans move their physical gold out of the US for a reason
- delaaxe 6y agoThe issue is apparently way worse with silver
- delaaxe 6y agoGold is also almost never used as a currency. BTC's product market fit is store of value, not medium of exchange
- doggosphere 6y agoGold was a currency. It evolved from rocks in the dirt, to gold coinage, to paper coupons, to whatever the hell instrument it is today. You stored your gold in a bank, and the bank gave you paper coupons to redeem it. People traded the coupons because it was easier than trading the gold. This is the birth of modern day banking.
- brianobush 6y agoHow is gold stable? Have you seen it in the last year? The last ten? Hardly stable IMO.