Post
Topic
Board Economics
Re: Bitcoin or gold?
by
RealBitcoin
on 07/07/2015, 10:49:58 UTC
Canned meat can be stored a few dozen years. But I guess if that was a question, you should better care for the safety and preservation of your ammo...

Yes but you want a very value-dense material, in the sense of most value / less volume (m^3)

So the best thing for that is diamonds, not gold. Diamonds have the most value / less volume, so i dont understand why you go with gold.

Unlike diamonds, gold is divisible, and, what is more important, gold is standardized, that is, a given bullion of some purity is not much different than other such bullion of the same purity. There are no two diamonds that are identical and valued identically, hence raises the difficulty in assessing the value of a certain diamond...

In short, no one will care for diamonds when canned beans become the staple of one's diet

It is standardized as paper currency, but no more. So if i would have to pay exactly 1.67€ for some service, then i need a 1€ bill a 50 eurocent coin , a 10 eurocent coin, a 5 eurocent coin, and 2x 1 eurocent coin.

So that is 6 different units that i need to pay that specific price (now with the current rate of inflation obviously pennys dont matter anymore, but lets just assume they do).

The same with gold, unless you got all sub-coins in gold at you in your pocker, you need to cut the coin in half in order to pay in a specific gram.

For example if you got 2 gram coins, but you have to pay 1.65 grams of gold, then what do you do?

With bitcoin ,you dont need a torch to cut it in pieces, you only need a smartphone, an internet wallet, and let the phone calculate the fractions Smiley

Also bitcoin is weightless, or atleast it weights a few electrons inside your PC's circuit, c`mon you dont want to carry heavy gold coins in your pocket do you?