Discussion - Gold as Money

Bitcoin Monetary Revolution
#101

i like your point about neutrality; it’s like the opposite of the credibility issue brought up by jp morgan in the earlier video that IOUs are the basis for so many currencies…
what i like is that credibility is built into the blockchain BUT the way it’s built in varies from coin to coin etc.

each coin comes with its own community and their priorities; i think those will be the difference between successful and short-lived coins.

if so, this begs the question: what are the best priorities? or maybe more aptly, what order of priorities is most sustainable?

#102

Gold is money based on how it has been used in the past. The chemical and physical properties as shown in the periodic table really do explain why it stands out among elements and how it came to be a portable and accessible form of money for so long. It’s a strange idea to think that it’s value as money may change as cryptocurrencies become more widely adopted with BTC as digital gold. The idea of BTC as digital gold is genius. It is more accessible to most people than gold is. There are many ways to purchase gold, like coins, bullion and jewelry. When people buy pure gold jewelry or high quality gold jewelry there is the value of the workmanship too and artistry to consider. That will always be valued and treasured, but maybe there will be even more pressure on gold’s functional and chemical properties, rather than monetary value now that there is a digital alternative. With BTC all the other layers, projects, oracles etc. of the crypto space demonstrate workmanship and artistry. The crypto space is quite an amazing ecosystem. I’m hoping that the creativity, intelligence, cooperation, collaboration and potential in the industry will really prove the value of cryptocurrency which I believe can offer great benefits to humanity.

#103

Gold and silver on their own are a good money however the level of market manipulation through “paper trading” has just made it an extension of the fiat system. Moving it from place to place is problematic as well

#104

Gold is one of rare deflationary form of money for a longest period of time

#105

It checks all the boxes on the definition value.

#106

It’s so great to be living in this times of our lives and be witnessing day after day, the real monetary revolution of our times, be witnessing the loss of value of gold and widely recognition of no value to the money we have been using for a too long time.

Major bigboys getting caught with pants down. They didn’t buy the Bigboys pants NFT.

https://youtu.be/av9_kHClTt0

#107

Although one can see the value of gold from all other metals. However, one of the main issues still remains as a fungible asset, is transportation in comparison to cryptocurrencies.

#109

Why are Rhodium and Palladium removed by process of the elimination here? Are there more reasons besides the ones mentioned in the reading assignment?
“Rhodium and palladium are more recent discoveries, with limited historical uses.”

I didn’t really understand that, and sorry if this has already been discussed somewhere.

#110

It has a Proof of work mechanism which directly contributes to the hardness of it as money. The easier it is to produce, the less likely it will be regarded as a money on the longer term

#111

Precious metal, gold is God’s money and it doesn’t go away never, its a store of value.