Post
Topic
Board Economics
Re: Bitcoin is Becoming a Global Currency
by
deisik
on 14/03/2015, 14:52:20 UTC
I think bitcoin is the first truly global currency and it truly does have the power to be a borderless, worldwide currency. My dream is that it just catches on so everybody else sees it like this because without being able to spend it at many places across the world it is kinda useless as a currency but I think this will change over time.

Gold was (and still remains) the first true and truly global currency by any means and thus for hundreds of years already. Whether bitcoin will be able to make it like gold did, remains to be seen. Personally, I think bitcoin is currently stuck between fiat and more apt cryptocoins, so it is not given that it won't be supplanted by them eventually...

Gold isn't very good as a currency for many reasons. Bitcoin is far superior in this regard in almost every imaginable way, though gold obviously has intrinsic value as a precious metal.

No one argues with this, gold drawbacks are well known and already priced in. But this doesn't in the least undermine what I have said previously, that gold is the only true currency out there that has lasted for centuries (actually millenia), and still remains highly valued even today, despite all the fuss with fiat monies and recently cryptocoins...