@patrissimo @EricCrampton so … precisely the same as paper money then?
Bitcoin seems like a great medium of exchange and a terrible store of value. Very dangerous to think of it as a new asset class.
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@BruceHoult US$ must be accepted in the world's largest economy by threat of state violence. That may be icky, but it gives US$ value.
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@patrissimo do you think it's currently a bad store of value or inherently a bad store of value. Would you extend the same argument to gold? -
@ArthurB Inherently a bad store of value, unlike gold which has non-monetary uses that put a floor on its value. -
@patrissimo@ArthurB So Patri you think there's a non-negligible probability that gold will go down in price to its non-monetary-use value?
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