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In the past yes, but I'm talking about today. Gold is a stable store of value that is not really used as money (at least in the U.S.)
by defen 13y ago
In the past yes, but I'm talking about today. Gold is a stable store of value that is not really used as money (at least in the U.S.)
- pathy 13y agoGold is also a lot more volatile than most currencies, which in turn makes it less suitable as a currency than dollars or euros. A trait gold shares with bitcoin. The volatility makes it terrible as a currency, not to mention the expected rise in value. That makes BTC even worse as a currency - there is no sane reason to spend bitcoin if you believe in the concept.
- ubernostrum 13y agoAnd I don't think you're disagreeing with him. I think you're trying to say "well, this other thing that doesn't get used as money anymore also doesn't fit his definition of money" and then implying that this somehow disproves his argument. When, in fact, it lends support to his argument.
- defen 13y agoI'm not saying it disproves his argument, just that BitCoin could theoretically be useful even if it's not money. Which is sort of tangential to his point - I'm suggesting that the money angle is perhaps overrated or a red herring.