What is Nostr?
a source familiar with the matter /
npub17k6…hcd0
2023-08-31 18:17:53
in reply to nevent1q…a3hq

a source familiar with the matter on Nostr: Gold is an inanimate object, as is green cotton. Gold is not supposed to kill fiat - ...

Gold is an inanimate object, as is green cotton.

Gold is not supposed to kill fiat - fiat's own contradictions will do that (and many, many fiat currencies have blown up over the past 50 years).

Imagine that fiat does in fact die. I think it's quite clear that material goods will retain trade value, and based on their scarcity & usefulness we can work out exchange ratios and rebuild an industrial economy. But what will determine the exchange ratio of Bitcoin to silver? To oil? To beef?
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