The "other uses" of gold were only needed to spread the commodity & bootstrap the recognition of its monetary properties. In reality consumptive demand driven by nonmonetary purposes makes it a worse money. It cannot purely reflect the supply & demand in other parts of the economy if it also has to respond to industrial uses for the metal itself.
Bitcoin's value has already been bootstrapped via the understanding that it was specifically designed to be a better money.
Jeff Swann
npub1aj…ftppj
2025-03-12 12:50:41
in reply to nevent1q…830x
Author Public Key
npub1ajv7m32k0cpgzha32qszsh304qusjvwwmavus0ttktzldms4xzusuftppjPublished at
2025-03-12 12:50:41Event JSON
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