Should Bitcoin replace Gold as a haven for global currencies?
Yes
Side Score: 1
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No
Side Score: 4
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Gold is not fiat money like paper. If we used gold in place of paper, then we would be forced to prioritize how that resource gets spent because there's a limited amount of gold on the planet. This means that (perhaps) space projects could be put on hold while we spend the gold on improving life on this planet (like fixing global warming). Fiat money allows us to just print more so we can do more. Bitcoin is kinda weird because more of it is created as we find more prime number (which is limitless but harder to find as time goes on). This would allow us to do more but at a slower rate. Anyway, that's my 2 cents worth ;) Side: Yes
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Gold is not fiat money like paper. If we used gold in place of paper, then we would be forced to prioritize how that resource gets spent because there's a limited amount of gold on the planet. I truly don't think you understand. All economics is based on the fact that there are limited resources. An increase in the supply of money equals a drop in value of that money. Side: No
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Inflation, yes..., I'm well aware. But, when the feds print X amount, the rest of the planet doesn't go, "Oh, they just printed X amount so we have to re-evaluate prices NOW!" There's a time gap before the rest of the planet catches up. Having said that. I do not claim to be an expert in the field. If you feel you're, go for it. ;) Side: No
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Should Bitcoin replace Gold as a haven for global currencies? Hello c: Gold isn't money because some government said it was.. It's money because people BELIEVE it is. They've always believed it, and it looks like they always will. Paper is only money because people BELIEVE it is. I dunno how long that'll last, because truly, paper ISN'T money. Similarly, bitcoin is only money because people BELIEVE it is. I dunno how long that's gonna last either, because truly, a bit of data on a hard drive somewhere in the world, isn't really money. excon Side: No
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Should Bitcoin replace Gold as a haven for global currencies? The problem is that gold actually exists in physical reality. Bitcoin doesn't. It is difficult to lose 3 million dollars worth of gold, but if that 3 million were stashed in bitcoin it could be as easy as your hard drive crashing. Side: No
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