Wrong. Bitcoin, like any other currency, relies on exchange for goods only. Countries can outlaw and yet they can not stop it.
1) Gold was valued before governments were a thing. 2) For centuries gold was medium of exchange directly without having to convert it to another form of money. 3) An object doesn’t need use value to be money. Fiat doesn’t have any either!
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Governments can and eventually will shut down bitcoin as its 1. Not decentralized 2. Not technically acceptable to use as financial transactions 3. Not govt issued
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you are not educated about bitcoin
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1. Gold was most valuable when governments used and accepted it for trade(Egypt, South American dynasties, European monarchies). 2. Gold was used AS currency minted by nation states, monarchies, etc. 3. Unfair to compare gold then to fiat now as our systems are complex
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Gold was used for monetary properties (Store of Value, Media of Exchange, Media of Wealth Transfer) long before governments were a thing. Money gets chosen by the market, not the state. The former has 10,000 years of history. The latter only 46. https://nakamotoinstitute.org/shelling-out/
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