Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
There was something between barter and gold. Currencies like salt, rare shells, rai stones, to name a few. Gold coins replaced those. While the other currencies were local, gold worked globally (well, almost, it didn't get to the Americas). See the parallel between contemporary local fiat currencies and the global bitcoins?
Why do you insist with gold? I said already that I am not a "gold bug". To me, the speculative overvaluation of gold is almost as bad as that of bitcoin. ("Almost" only because gold does have some intrinsic value, although it has little infuence in the gold's market price.)
Because gold is very much comparable with bitcoin (except for a few differences). By transposing your arguments against bitcoin to gold, the flaws are more easy to spot. But then, if you say gold is/was just as bad as value storage and value transfer as bitcoin, then we can end this discussion. I think gold did a good job until recently. Nowadays, it's not practical anymore. But bitcoin is. IMHO, of course.
