I believe THE major property is the store of value...both over a short period of time, and a very, very long period of time. On to the point...
Fungible basically means that one satoshi in a store can buy you a stick of gum, and another satoshi in another store can buy you a stick of gum as well. Equal units can purchase equal value of goods and services.
Unfortunately, we are on a dollar standard, so the fungibility of bitcoin only works if the store owners prices the items in bitcoin, not dollars. Because the dollar price of bitcoin fluctuates, each satoshi isn't exactly fungible.
Gold is not limitless. All the gold has already been created by nature. Humans just haven't discovered it all...yet. This discovery process is very slow, and does make a bit of inflation, but historically gold inflation has not affected the average person.
Gold is money. Gold is not considered legal tender anymore by some countries, but that is starting to change again right now.
My points are consistent with the historical definitions of money. If you would like to continue the discussion, we can do that. I am also working on a money series similar to the bitcoin series.
Delta Charlie
npub1aq…vmhkh
2024-02-13 12:46:30
in reply to nevent1q…p4uf
Author Public Key
npub1aqxs793kps5eanmvnse97at6nc975pg6e0c6tjzxq700x0jzdl7qvvmhkhPublished at
2024-02-13 12:46:30Event JSON
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"content": "I believe THE major property is the store of value...both over a short period of time, and a very, very long period of time. On to the point...\n\nFungible basically means that one satoshi in a store can buy you a stick of gum, and another satoshi in another store can buy you a stick of gum as well. Equal units can purchase equal value of goods and services. \nUnfortunately, we are on a dollar standard, so the fungibility of bitcoin only works if the store owners prices the items in bitcoin, not dollars. Because the dollar price of bitcoin fluctuates, each satoshi isn't exactly fungible.\n\nGold is not limitless. All the gold has already been created by nature. Humans just haven't discovered it all...yet. This discovery process is very slow, and does make a bit of inflation, but historically gold inflation has not affected the average person.\n\nGold is money. Gold is not considered legal tender anymore by some countries, but that is starting to change again right now. \n\nMy points are consistent with the historical definitions of money. If you would like to continue the discussion, we can do that. I am also working on a money series similar to the bitcoin series.",
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