3 ms·

I don’t agree with your interpretation of this definition. Gold is considered hard money, yet it is only a shiny rock. It is indeed the supply, ability to debas

I don’t agree with your interpretation of this definition. Gold is considered hard money, yet it is only a shiny rock. It is indeed the supply, ability to debase and store of value over time that makes it a hard asset. It certainly is not satire. I believe what I wrote with great passion. I’d rather take a 51% risk (which… is not credible for many many years now) than a 100% risk my dollars are going to 0. I agree about the fungability risk. Yes chain analytics is a thing. But it won’t be forever. Some UTXOs are bad. Not Surprisingly, enterprising folks have used various techniques to get around this. There is no mainnet filter on chain tho — a dirty utxo is as fungible as a Coinbase reward. It’s the centralized ecosystem that isn’t.

XCSme 5y ago
> Gold is considered hard money, yet it is only a shiny rock Despite its traditional value, gold is not only a shiny rock, it is an useful material in itself (it is not only used for jewelry).
smt88 5y ago
It's not my interpretation. It's the definition used by everyone in finance and accounting. https://www.investopedia.com/terms/h/hard_asset.asp https://www.investopedia.com/terms/h/hard_asset.asp Intangible assets cannot be "hard". Also, gold is not just a shiny rock. It can be made into electronic components, food, art, jewelry, and a huge variety of industrially-useful alloys.