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With the small exception that homes, land and stocks (at least some of them) can pay you rent. I personally like to think of Gold as of Babylonians Bitcoin, it
by 0xmarcin 4y ago
With the small exception that homes, land and stocks (at least some of them) can pay you rent.
I personally like to think of Gold as of Babylonians Bitcoin, it has very little value of its own - but it has a long history of being a store of value (like 5k years vs Bitcoin's 5k days). So at least in this case we have a lot of track record that Gold works.
Beside Gold, silver was also used for monetary purposes, but with time it lose its role - as more and more silver was produced as e.g. side product of copper mining. Countries that were relying on silver as the store of value (China) where hit very hard by silver inflation.
Time will show if Bitcoin is a bubble, cyber silver or cyber gold. I personally would be interested in having stable coin based on Gold, that would basically mean return of the gold standard. But in that case we have to trust some institution to keep all that gold safe...