Replies (8)

Kingbee's avatar
Kingbee 11 months ago
I want to he help. I take Bitcoin for products. I am going to try to buy eggs tomorrow with Bitcoin at the farmers market. Will let you know if I pull it off.
Only way #bitcoin can be a currency is if it is pegged to #gold ! Or it must become digital gold first .. Wouldn't it be just another shitcoin if it is not really pegged ? #askNostr
Bitcoin News's avatar Bitcoin News
Jack: If Bitcoin winds up being just digital gold, I think it has failed.
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I don't see how it could. To me the main problem of paying with gold is that it is rather hard to divide gold into usable pieces. Or if you want to "consolidate" your gold "utxo's", so you don't cary a bunch of gold dust in your pockets, requires you to invest into an oven or something. While this significantly hampers gold's usabilty for a transaction we have already proven that with bitcoin, this is not the case. People can try to force it in the "digital gold" direction yet there are already many tools in place that will allow people to hand out small pieces of it anyway. The genie is already out of the box, anybody can theoretically use it and accept it so i think the train is way past the "digital gold" station.
Bitpower's avatar
Bitpower 11 months ago
Agree. But as with all metaphors they have the effect of a meme, though not exactly accurate they get they point across.