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That is the non idiotic thing about gold, since it is not fiat, is not easy to produce, and it is easy to verify, it can be used as a currency in less stable ti
by lotsofpulp 1mo ago
That is the non idiotic thing about gold, since it is not fiat, is not easy to produce, and it is easy to verify, it can be used as a currency in less stable times/places. It’s a redundancy. Perhaps bitcoin satisfies many of these properties without the high costs to secure and move gold, but it needs electricity and a network?
https://www.macrotrends.net/1335/dollar-vs-gold-comparison-last-ten-years https://www.macrotrends.net/1335/dollar-vs-gold-comparison-l...
- megagpt2 1mo agoGold is a fiat currency because it has no inherent value.
- lotsofpulp 1mo agoThat is not what fiat currency means. https://en.wikipedia.org/wiki/Fiat_money https://en.wikipedia.org/wiki/Fiat_money
- MiroslavPokorny 1mo agoGold has a lot of material uses, eg computer chips and other electrical equipment for starters.