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fiatjaf · 11w
Some people think Bitcoin doesn't have to scale and get adopted enough to become money, it can just be a "store of value" forever. The first thing is that these people don't really believe in "storin...
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uncleJim21 @uncleJim21
If gold is not used as a means of payment then why is it 10x market cap of bitcoin?

I agree that it needs to be an MoE to truly slay the dragon of fiat but it is hyperbole to say ALL of its value is predicated on being a widely used medium of exchange.
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Andy Scott · 11w
I think the reason gold has larger market share is simply down to 5000 years of network effects against 17 years. Looking at it that way, the fact that it's even close is a major clue as to how the trend will continue. Gold failed because it centralised. It centralised because it couldn't be used a...
fiatjaf · 1w
Gold is used as a financial instrument and most of its value come from that. It would be same with Bitcoin, as long as it was perceived as money by normal people. The moneyness of Bitcoin would form the core of its value on top of which other types of demand would be stacked. With Gold I believe i...