Quote:
Originally Posted by afc wimbledon
Thats just a Gold Standard, which is what we had back in the day when no one less than a millionaire could get a mortgage, there is nothing fundamentally different about having a capped currency in fact it is a return to the 19th century and has all the same issues, no growth.
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What’s interesting is that if Gold is actually a store of value then we still operate on the gold standard over long periods of time and the existence of Bitcoin doesn’t change this. As money is printed the value of gold in terms of those dollars rise.
Ergo we aren’t constrained on a day to day basis but the gold standard but the fundamentals of inflation relative to a store of value don’t change. Or Gold isn’t a real store of value given the current levels of asset inflation occurring.