A few ways (USD): - stability (low volatility) - liquidity - medium of exchange - compatibility w banking system - unit of account - ability to pay US taxes
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Replying to @RyanSAdams
Gold was ALL of those things for 10,000+ years. 1) Gold, over long periods, has historically been more stable than Fiat. It is said that the price of a cow in medieval times measured in weight of gold is STILL roughly the same as today.
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Replying to @MustStopMurad @RyanSAdams
2) Gold was abundantly liquid when it was highly monetized. I don’t see your point.
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Replying to @MustStopMurad @RyanSAdams
3) Gold was a successful medium of exchange for ten millenia, fiat only for 47 years. I don’t see your point.
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Replying to @MustStopMurad @RyanSAdams
4) The banking system based on gold existed for 12+ centuries. I don’t see your point.
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Replying to @MustStopMurad @RyanSAdams
5) What do you mean “unit of account”??? Once again, Gold was a fine unit of account for millenia. I would even argue it is an even better unit of account than fiat, when monetized. I don’t see your point.
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Replying to @MustStopMurad @RyanSAdams
6) US taxes for payable in precious metals for decades before the introduction of fiat. Once again, I don’t see your point.
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Replying to @MustStopMurad @RyanSAdams
What are you even talking about man. With all due respect, all of those bullet points are nonsensical. Please actually look into monetary history. Gold was repeatedly globally seized, outlawed, centralized and subsequently supressed. Please stop spreading statist misinformation.
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Replying to @MustStopMurad @RyanSAdams
Unsurprising that you are such a staunch believer in random utility shitcoins. S M F Hpic.twitter.com/gy9RM7oy8g
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You almost exclusively tweet about ETH, Cosmos, and other smart contract platforms. Coins, which in my view, will never become global sound money and will inevitably prove to be bad investment. It’s baffling to me people even think otherwise.
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