BTC is not a Store of Value. It's mostly a speculative play that newcomers will buy into old brand. And maybe partly a bet on future LN development.
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Gold is a beautiful shiny yellow metal that does not tarnish and is incredibly easy to work into all sort of shapes. That is why it was valued the world over, since prehistory. And that is why it was a good "store of value". Bitcon, on the other hand, is literally nothing.
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Lol, really? This is what made gold valuable? Not the fact that is a rare metal. Sound money can’t be replicated or produced easily.
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Yes, genius, that is why everybody wanted gold, and no one wanted scandium or tantalum. Sound money is money that has stable value. The USD is sound money. Gold does not have stable value, that is why it is no longer money. Bitcoin is the exact opposite of sound money.
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Sound Money is about fixed supply not stability. Bitcoin is only 9 years old, Gold was stable in the 1880s before governments actively demonetized it. Give Bitcoin 30 years and it will also be a lot more stable
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"Gold is sound money" is what the gold holders need you to believe. Indeed the value of gold was stable while it was pegged to USD, and the Fed struggled to stabilize its value. When they finally gave up, gold became stupidly volatile, while the USD continued to be stable.
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Gold was stable long before United States was even a thing
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I suppose that you were there and thus you know what you are talking about.
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you don’t understand monetary economics and how money emerges in the first place. it’s sad that a computer science professor is so narrow minded when it comes to an emergence of natively-digital money. Money can exist outside of the state.
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