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RE: Bitcoin Would Be A New Gold Standard. And Maybe That's A Bad Thing
I agree, in a post apocalyptic world where nothing save food and shelter has any value, gold is about as useful as a hole in your head. On a long enough timeline everything will be zero eventually. Its our job to look at where we are and to do the best we can for the people we love. We all have our own motivations and drivers for doing anything. As a parent I have to always look at the positive in every situation to negate the negative. Personal opinion of course ; )
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Exactly, neither gold nor fiat currencies nor bitcoin have any intrinsic value and we got to do the best with that. Gold is just a currency like any other, but that is usually not printed in high amounts.
Since inflation is necessary for an economy to give rich people a good incentive to invest their money, and it doesn't affect what working people earn, we should have a currency that allows for stable inflation. Maybe some will argue it's not fair when the (democratically elected) government can literally print money, but is it fair when gold miners can?