Post
Topic
Board Bitcoin Discussion
Re: Why Is Getting Bitcoin "Accepted" As A Form Of Payment So Important???
by
casascius
on 13/03/2011, 00:31:38 UTC
Before something can be a store of value, it needs to have value. Gold gained this initially through being wanted for use in jewelry. The only way bitcoin can gain value, is by proving its worth as a useful (or even best) means of electronic payment.

Gold is useful for lots of other things, like plumbing, ductwork, electrical wire, and as a general anti corrosive coating.  It is useful for lots of things just like any other metal.  Only because of its high price does it not make sense to use gold for everyday things, and that high price is due to its rarity and value as money.