Quote from: notme on September 14, 2013, 06:54:33 PM

Quote from: Birdy on September 14, 2013, 06:52:39 PM

Quote from: notme on September 14, 2013, 06:48:57 PM

The velocity of Bitcoin in such a situation would be much higher then the velocity of gold. Bitcoin is much easier to send around the world. Even with significant lost Bitcoin, it could fill gold's role with a much lower price than half a million each.

But isn't the point in gold's role just having it to save your wealth aka store it?
So the duration of the transportation shouldn't have that much influence on that.

It is also used for international settlements. With bitcoin this can be done more frequently and at lower cost.

From other hand, if you get your paycheck monthly, the money just sit on your account for (average)half-month. Bitcoin won't change this timing.