Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin a currency or asset?
by
Stianyd
on 11/12/2017, 22:03:07 UTC
I have quickly scanned your article and will digest it more thoroughly later. My major concern is whether the global economy needs yet another currency, particularly one independent of valuation metrics. Since the global economy is fundamentally an open system with continuous energy input, but with fixed quantities of physical matter, delinking currency, as a proxy for energy flows, from a physical standard (gold) has long made sense. Since the amount of energy cumulatively increases in the system over time (solar energy can be converted to chemical energy and stored) any currency should also cumulatively increase over time. With a fixed quantity of bitcoins haven't we just created an ethereal "gold standard".