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It's close to a new gold standard. The one problem associated with gold that it does solve is being as good a medium of exchange as visa/paypal (or better).
by polarix 14y ago
It's close to a new gold standard.
The one problem associated with gold that it does solve is being as good a medium of exchange as visa/paypal (or better).
- chii 14y agoThe one thing BTC cannot yet replicate is the trust that gold standard has. Anyone in the world would immediately accept gold standard, but this BTC, despite being a digital gold, will be difficult to overcome the initial fear/mist-trust. It doesn't matter what mathematical proof you provide - the laymen doesn't really understand it. May be one day, it becomes accepted, and BTC will then really be a new gold standard. But i don't see that day coming, because there are people who don't like the gold standard (as it prevents them from leeching money from society - i.e., various parties/entities who hold controlling interests in major central banks etc).