Post
Topic
Board Economics
Re: Better Money: Gold, Fiat, Or Bitcoin?
by
mv1986
on 31/05/2024, 12:30:09 UTC
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Fiat, gold and bitcoin are means of payment - but each has its own market. In traditional economic life – fiat is king, gold is a commodity, while bitcoin is the alternative. You can use fiat anywhere - you can also sell gold or use it as a means of payment anywhere, but in some countries you are prohibited from using bitcoin as a legal tender.

The demand for bitcoin will continue to increase over time - it will become more popular among the public year by year. Adoption can be expected to be the best fundamental for hoping for a better future - but of course adaptation to its use cases still has to be patiently expected. Prices will always fluctuate - that is an inherent thing.

"...but each has its own market..."

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Regarding utility, the most appropriate answer for the time being is “everything has its own market and everything has its own users” that's what I can conclude at the moment from the many comments I read in this thread.

In conclusion, everything has the right place and time in its use if it is pegged as a medium of exchange or on the same object, but speaking of effective mobility and the easiest efficiency is bitcoin, I really believe in it because I also have bitcoin pieces and I am free with the value of the money I have in bitcoin, there is no intervention there is no wealth control from anyone and only I can control it, because indeed in some countries we can exchange our bitcoin easily, but almost in all countries there must be bitcoin exchange service recipients, so what is there to fear, especially if we are on vacation in El Salvador.

Nono, _BlackStar got it correct already. You have introduced a redundancy now.

_BlackStar said "...but each has its own market...". If something has its own market, this already implies that there are users/consumers. I know this is nit-picking, but I thought I drop this post so if you think about it, you might get the idea. A market describes an environment where at least two actors transact with each other in some way.