Largely irrelevant because a gold-backed currency is the primary trading currency. Bitcoin specifically is more like an investment than a currency because it's not being traded as much as it should, but is treated as a future value generator.
Given that there isn't a single gold-backed sovereign currency, I'd say that it would be very relevant if a country were to consider switching to one (though I can't imagine anyone wanting to put such a constraint on themselves).
Who's treating Bitcoin as a future value generator? It's really a wealth transfer mechanism.
Largely irrelevant because a gold-backed currency is the primary trading currency. Bitcoin specifically is more like an investment than a currency because it's not being traded as much as it should, but is treated as a future value generator.
Given that there isn't a single gold-backed sovereign currency, I'd say that it would be very relevant if a country were to consider switching to one (though I can't imagine anyone wanting to put such a constraint on themselves).
Who's treating Bitcoin as a future value generator? It's really a wealth transfer mechanism.
Bitcoin millionaires and Bitcoin investors.
By 'value' you mean capital gains, right?
Yes. That's essentially how Bitcoin is functioning right now in my opinion.