Post
Topic
Board Bitcoin Discussion
Re: The Gold Standard comparison is invalid
by
ploum
on 11/05/2011, 12:51:19 UTC
Fact #5 – Bitcoin is highly international

This only enhances the point that it’s not a standard.  How could something so distributed (distanced from a fiat currency) be considered a Standard?

Being accepted and agreed upon by a large amount of people over a wide area sounds like a good definition of "standard."

Not enough. You are talking about a "de facto" standard, which could be a bad thing (like .doc format). To have a real standard, you have to ensure that everyone can read the standard, that everyone can implement the standard without any barrier and that any change made to that standard are driven by a well-known body not related to any particular private interest.

Standardization is an hard science, really.