Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin a Digital Gold??
by
Taya Afi
on 25/09/2018, 11:03:01 UTC
many bitcoin enthusiasts, especially those with libertarian views, have always discussed the main economic value of bitcoin. The theoretical basis of bitcoin was taken by Satoshi Nakamoto from the Austrian school of economics and positioned the Crypto currency as deflationary money and a cumulative means in accordance with the Menger theorem of regression.

According to this theorem, "real" money, such as gold, first acted as a cumulative means, and only then went into circulation. Without the original value, gold would never be used as money or as a method of payment, since no one would accept it:

People valued gold as such before it turned into money. Thus, the theory of the current market value of gold begins its development from the moment when gold became an exchange medium.

If we assume that the Austrians are right and the goal of bitcoin is to become money after a while, then now first and foremost we need to protect this digital gold.