"The reason gold was used as money more than granite is no longer relevant." I disagree. Yes moneys are stories, but they are not arbitrary stories. The money-winners eventually emerge due to possessing very specific characteristics.https://twitter.com/TusharJain_/status/1009926106504400897 …
The early draw might have been human preference just like it was with other shiny stones, beads and golden nuts. But the reason it persisted through millenia is precisely because it’s difficult to rapidly inflate, unlike other money-forms similarly instinctively desired by humans
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History is never binary. I’m skeptical that we can pinpoint exactly why something happened this far in the future with any certainty.
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What’s a fact though is that Gold has the highest stock-to-flow ratio. Which is essentially new supply inflation. Which seems to have played a role. Do you have examples of other metals / items with stock-to-flow higher than Gold’s?
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Worth pointing out again that just because gold did X doesn’t mean Bitcoin will X or that Bitcoin is gold. You can’t treat analogies as gospel.
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I never made BTC = Gold analogy in this thread.
End of conversation
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On the contrary, it's particularly easy to inflate. To improve its hardness [with the more sinister reason to inflate it], gold is mixed with silver and/or copper. It's exactly what the ancient Romans complained about their Caesars.
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That’s not total aboveground supply inflation. That’s dilution & counterfeiting, which is different.
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Lol. What would be the analogy of dilution in Bitcoin - and still pass as currency as gold was?
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I guess a double-spend. But it’s not cheap or easy to execute.
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That won't be accepted by the Bitcoin network [it won't pass as currency].
End of conversation
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