a source familiar with the matter on Nostr: "Do you actually think that the physical nature of gold is what gives it value?" Yes, ...
"Do you actually think that the physical nature of gold is what gives it value?"
Yes, absolutely. The physical nature of gold is 100% responsible for humanity selecting it (and not some other commodity) as money.
The only reason fiat "beat" gold is Gresham's law.
Bad "money" [when artificially valued at par by threat of force] drives out [of circulation and into hoards] the good.
"Do you think the digital units in your bank account don't have value?"
Correct, and every day that gold hits a new all-time high other people are realizing it too.
I think the only rational thing to do with fiat or pure credit instruments is to spend or invest the purchasing power in something else as quickly as possible. This includes the pure credit instrument called Bitcoin.
Yes, absolutely. The physical nature of gold is 100% responsible for humanity selecting it (and not some other commodity) as money.
The only reason fiat "beat" gold is Gresham's law.
Bad "money" [when artificially valued at par by threat of force] drives out [of circulation and into hoards] the good.
"Do you think the digital units in your bank account don't have value?"
Correct, and every day that gold hits a new all-time high other people are realizing it too.
I think the only rational thing to do with fiat or pure credit instruments is to spend or invest the purchasing power in something else as quickly as possible. This includes the pure credit instrument called Bitcoin.