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I understand your point but... Isn't gold speculative in nature today? If any central bank can print as much as they want, what's the relation between gold and
by abroad 5y ago
I understand your point but... Isn't gold speculative in nature today? If any central bank can print as much as they want, what's the relation between gold and money supply now?
- jstx1 5y agoI haven't mentioned gold at all. If there's a fundamental relationship between money supply and Bitcoin, you should be able to outline it without referring to gold.
- hobofan 5y ago> what's the relation between gold and money supply now? Are you referring to the gold standard[0]? As you can see from the Wikipedia page, that concept has long been abandoned by national banks. So there is no special relation between gold and money supply nowadays (at least not one that differs in any meaningful way from any other natural resource). [0]: https://en.wikipedia.org/wiki/Gold_standard https://en.wikipedia.org/wiki/Gold_standard
- unicornmama 5y agoIt’s a misconception that gold is purely speculative. Half of gold is used for jewelry and 7.5% is used in industrial application. Even if all the financial demand would go to zero, the price of gold would not go to zero. https://www.investopedia.com/financial-edge/0311/what-drives-the-price-of-gold.aspx https://www.investopedia.com/financial-edge/0311/what-drives...