We're NEVER going back to a gold standard.
If we do, the last 100 years of economic history will be repeated.
I think over the next 10-50 years, #Bitcoin will be the global reserve asset.
Here's why:
(THREAD 👇)
If we do, the last 100 years of economic history will be repeated.
I think over the next 10-50 years, #Bitcoin will be the global reserve asset.
Here's why:
(THREAD 👇)
Physical gold is impossible to use for payments in a digital world
Gold requires custodians. You can't move it from one place to another instantaneously.
I've heard suggestions for tokenized gold but that would mean we go right back to custodians and fractional reserve banking.
Gold requires custodians. You can't move it from one place to another instantaneously.
I've heard suggestions for tokenized gold but that would mean we go right back to custodians and fractional reserve banking.
We live in a digital world
How would you pay for digital products, subscriptions, etc. using gold without a central third party like a bank?
The world never moves backward as technology improves.
Digital is always better than analog.
We are finding decentralized solutions.
How would you pay for digital products, subscriptions, etc. using gold without a central third party like a bank?
The world never moves backward as technology improves.
Digital is always better than analog.
We are finding decentralized solutions.
#Bitcoin is digital gold
Bitcoin has all the qualities we need money to have.
It is scarce, fungible, divisible, durable, portable, and salable around the world.
Bitcoin has all the qualities we need money to have.
It is scarce, fungible, divisible, durable, portable, and salable around the world.
Trust in banks is decreasing
Global trade is smoother with a single form of currency. Since gold is expensive and difficult to move from place to place, we would need to move back to using credit and fiat.
If we went to a gold standard, money would become centralized again.
Global trade is smoother with a single form of currency. Since gold is expensive and difficult to move from place to place, we would need to move back to using credit and fiat.
If we went to a gold standard, money would become centralized again.
#Bitcoin doesn't require trusted third parties
While third parties are involved (exchanges and wallet producers), you don't NEED them to use the network.
A gold standard REQUIRES financial institutions to transact with businesses unless we physically meet for payments.
While third parties are involved (exchanges and wallet producers), you don't NEED them to use the network.
A gold standard REQUIRES financial institutions to transact with businesses unless we physically meet for payments.
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