Weird i just bought some gold online with btc? Seems like a currency to me

in #bitcoin7 years ago

Which would drive down the price of real estate so more people could afford to own houses, instead of renting from the rich. The ultimate goal is not relative personal wealth - it's efficient use of global resources to help mankind and other living species.
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This argument might hold water if new units of currency were evenly distributed. In reality, new currency is given to the banks so they can help the wealthy buy more and more appreciating assets, while everyone else's money loses purchasing power.

Yes, people could hoard money, but in a fixed supply currency, taking money out of circulation just increases everyone else's relative wealth. And a rational person would not hoard in an abundant economy. They would use their wealth to maximize the quality of their time on Earth.

Apples to oranges: the former isn't a currency and never will be, the latter is the world's reserve currency. Weird i just bought some gold online with btc? Seems like a currency to me

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