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69 sats \ 2 replies \ @grayruby 17 Mar \ on: Why Does El Salvador Hold $86M of Gold? bitcoin
I haven't sold my gold either. Should I?
Maybe if I am trying to absolutely maximize returns but it seems like there is an unlimited supply of fiat for me to procure a small share of to just buy more bitcoin that I don't need to sell my gold or chairs to get more. It would be great if there were more ways to earn bitcoin in my spare time as well but buying it is ok for now.
Also, although I agree bitcoin is going to eat gold's market share as a store of value I still like it as a fiat hedge and I believe if fiat collapsed tomorrow they would go back to gold way before they went to a bitcoin standard. Global powers hold way too much of it. That doesn't mean people won't continue to choose bitcoin over gold just that I don't think it is going to lose monetary premium any time soon.
Global powers hold way too much of it
doesn’t this hurt the odds of gold being used again in the case of a Bitcoin failure?
i feel like gold’s time has passed no matter what happens to Bitcoin, going back to the gold standard doesn’t seem realistic in any situation to me
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I don't think they will go back to a gold standard per se but I do think that something along the lines of a commodity basket backed digital SDR might be the route they go if current fiat system collapsed.
"we have something new and better than those dollars. It's digital but it is backed by commodities".
It will be a mess and totally as manipulated as the current system but I think they try everything and anything before Bitcoin. Doesn't mean Bitcoin doesn't win in the end.
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