Quote from: evoorhees on May 18, 2011, 05:46:00 AM

Quote from: forever-d on May 17, 2011, 12:05:53 PM

There is nothing special about gold. The only reason it has lasted as a money for 5,000 years is because there was no superior alternative for certain financial needs.

False. There is something special about gold. No other commodity possesses its particular blend of characteristics - and these characteristics make it desirable as a money, thus it is used as such. Lumber and coal do not possess the same benefits as gold, and thus they are not used as money. Same with stuffed animals, buckets of water, and raw iron. Gold is unique in its properties, and its use as money is derived precisely from these properties.

That doesn't mean it's the ONLY good money, or that it will ALWAYS be preferred as money, of course.

And indeed a few of us on this forum believe Bitcoin possesses special characteristics which make it a superior money even to gold! =)

I wrote a piece about this if anyone wants elaboration - understanding money is very important for anyone who wants to encourage the growth of Bitcoin. http://bit.ly/dk0VzY

actually, you and forever-d are in agreement. and i agree as well. and nicely written article btw.