4 ms·
yes this is a good point. There is little specifically about gold besides rarity and intrinsic value/desirability that makes the gold standard ideal. I actuall
by maerF0x0 3y ago
yes this is a good point. There is little specifically about gold besides rarity and intrinsic value/desirability that makes the gold standard ideal.
I actually think the function is that it's tied to _something_ of intrinsic value, that the intrinsic value isn't wildly fluctuating, and that it's roughly fixed in supply. Then by tying the currency to the resource it means that the currency cannot be created (fiat) without addressing those properties of the backing asset.