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Bitcoin has all the disadvantages of gold and none of it's benefits. Gold became a valuable barter item because of it's convenience. Store-of-value is the wor
by naruvimama 6y ago
Bitcoin has all the disadvantages of gold and none of it's benefits.
Gold became a valuable barter item because of it's convenience.
Store-of-value is the worst trait of gold, the incentive of sitting on a pot of gold is better than in investing it in a productive endeavour.
Gold simply cannot fuel the rapidly growing modern economies, neither can bitcoin.
- oleganza 6y agoFunny that you mention it. It's the opposite in my view. Depending on "to whom". If you you have savings, of course it's better for you to have it hold value. And if you hold debt, it's better for you for that to fall over time. But we are not discussing whether "everyone is in debt" is good/bad, we are talking whether money is good/bad for the money's purposes. Also, Bitcoin flows over wires and gold does not. Speaking of debt, if "it's good for society" for a lot of people to be in debt (because how else would ppl prefer assets to depreciate so they are stimulated to get rid of them?) then how do you avoid fewer people being creditors? In my view, more ppl with savings and fewer ppl in debt is key to a democratic/decentralized society w/o dangerous concentration of power.