Gold is an inanimate object, as is green cotton.
Gold is not supposed to kill fiat - fiat's own contradictions will do that (and many, many fiat currencies have blown up over the past 50 years).
Imagine that fiat does in fact die. I think it's quite clear that material goods will retain trade value, and based on their scarcity & usefulness we can work out exchange ratios and rebuild an industrial economy. But what will determine the exchange ratio of Bitcoin to silver? To oil? To beef?
a source familiar with the matter /
npub17k…mhcd0
2023-08-31 18:17:53
in reply to nevent1q…a3hq
Author Public Key
npub17k64766yhzvhk2mws356dftl35lnkthjwq34gdz9cs8va3y9aejqwmhcd0Published at
2023-08-31 18:17:53Event JSON
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"content": "Gold is an inanimate object, as is green cotton.\n\nGold is not supposed to kill fiat - fiat's own contradictions will do that (and many, many fiat currencies have blown up over the past 50 years).\n\nImagine that fiat does in fact die. I think it's quite clear that material goods will retain trade value, and based on their scarcity \u0026 usefulness we can work out exchange ratios and rebuild an industrial economy. But what will determine the exchange ratio of Bitcoin to silver? To oil? To beef?",
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