So then in what conditions would gold/silver be a good choice?
Now that crypto is here, I would think everyone that has even a limited grasp on the dynamics of crypto, would see this as a no brainer?
Im really strugging to see where Im wrong here? Especially after reading Shelbys linked post. Whats the argument after reading that?
Im not trying to be a smartass when I say, that Im surprised that people think that gold/silver would even compare to cryptos potential in any case!
Many thought silver would take off because of its use in industry, but we see what we got from that.
The case for either metal is quite simple, they require no maintenance to continue in value. Where as BTC has a network that must be maintained, I dont especially see the two standards of metal and electronic transfer as being in competition. If BTC achieves qualities gold will never have then they can both appreciate at the same time.
Also for gold there is qualities it has that are not replaced by the existence of BTC. It is a unique element, there is no immediate argument between the two as they do different things, I see both retaining value going foward. The main issue is that neither is being used commonly.
When US dollar standard fails as it appears it must for the world to carry on untroubled then I would never assume the USD will fall perfectly intact never a flaw until it hits the ground completely unused. Whats far more likely is the global reserve of using just one nation for world trade is fractured, the idea itself is a failure and in that process the value held by USD distributes to many different types of monetary transfer. So we'll have alternate FIAT standards with presumably proper interest being paid, we'll have value placed in metal and commodities and we'll very likely have some value attributed to online blockchains. There will be paper currency partially backed by gold, thats just historic reversion and it worked previously no reason to doubt it wont be tried and tested most likely working similarly in future.
I dont believe any one standard will replace USD as a duplicate in size and form as it transacts daily right now