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If you want to talk historically over long terms; gold is a far, far better store of value over time than fiat currencies, including the USD. None of this howev
by etherael 15y ago
If you want to talk historically over long terms; gold is a far, far better store of value over time than fiat currencies, including the USD. None of this however changes the fact that rapid convertibility to and from bitcoins allows you to price any financial instrument in any kind of currency and perform the actual transfer at time of execution, effectively transforming bitcoins into nothing more than a fee free electronic funds transfer with no regulatory oversight.
- skybrian 15y agoOver the long term, lots of assets are better investments than cash. That's not what I'm getting at. If I go to the store and prices are in dollars and not Bitcoins, or if loan payments can't reasonably be priced in Bitcoins, they aren't performing one of the primary functions of money. Put it this way: people are excited because the price of Bitcoins in dollars is going up. If things were priced in Bitcoins then it wouldn't make any difference - the prices would still be the same (in Bitcoins).