Your gold analogy makes no sense to me, so either I'm misunderstanding it or you don't understand what you're trying to explain. > I think maybe bitcoin enthus

Your gold analogy makes no sense to me, so either I'm misunderstanding it or you don't understand what you're trying to explain. > I think maybe bitcoin enthusiasts think that value is a sort of spirit... Interestingly, that is actually kind of how it works. The money you use itself has no value, it's value is in the things you use it to trade. So if you start trading in other currencies, those currencies receive that value, which gets reflected in the purchasing power metric.