AgoristView on Nostr: The "other uses" of gold were only needed to spread the commodity & bootstrap the ...
The "other uses" of gold were only needed to spread the commodity & bootstrap the recognition of its monetary properties. In reality consumptive demand driven by nonmonetary purposes makes it a worse money. It cannot purely reflect the supply & demand in other parts of the economy if it also has to respond to industrial uses for the metal itself.
Bitcoin's value has already been bootstrapped via the understanding that it was specifically designed to be a better money.
Published at
2025-03-12 12:50:41Event JSON
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