𝐓𝐗𝐌𝐂
𝐓𝐗𝐌𝐂|Oct 22, 2025 18:08
A few things I disagree with- Neither Bitcoin nor gold are money presently. Gold was once. Scarcity doesn't by itself delineate good vs bad money. It is one property. An element of elasticity is needed for an economy to expand without structural price instability. Bitcoin takes the concept of scarcity to its ideological extreme which arguably hinders it fulfilling the most important role of money: medium of exchange. However it does make BTC exceedingly valuable in trade. A blessing and a curse. No matter what the price of gold is, the rate that it's pulled from the ground relative to total supply doesn't get very high, and is restrained by the natural difficulty adjustment built into mining. This gives gold a hardness that most Bitcoin advocates are loathe to acknowledge as if it weakens their arguments about BTC (it doesn't).(𝐓𝐗𝐌𝐂)
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