Thread - Nostr Hypermedia

to play devil's advocate: has gold failed as a monetary good? it is not used in payments on a daily basis, and is most commonly thought of as SoV. i would strongly argue that gold has not "failed" by any means. you know i love you and appreciate your work uncle! but, i think that sometimes these "bitcoin fails if xyz" are reductive and subjective (ultimately)

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Replies (4)

UNCLE ROCKSTAR rockstar@primal.net 7 months ago

Gold is failing now, exactly because it couldn't scale for payments.

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Jordan jmbush@primal.net 7 months ago

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ABC News (@ABC) on X

Scientists at CERN's Large Hadron Collider have successfully transformed lead into gold atoms, achieving an ancient alchemist dream through modern ...

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szarka 7 months ago

I think it's fair to say that gold is a monetary asset, but not *currency*. Nor is any currency tied to gold today. As the basis for an international monetary system, gold had its brief day in the sun, but government corrupts everything it touches…

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Ape Mithrandir apemithrandir@apemithrandir.com 7 months ago

Governments (in particular the US Gov) removed our ability to use a money backed by Gold. They converted our Money from Gold and Silver coins to Paper Certificates, then removed the backing of that paper. Do not let them do this again with CGT, ETFs and custodial solutions. Bitcoin can be used as Money today, and in order to ensure it can be used as Money tomorrow, you should use it.

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