3 years ago

204

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In this video, I discuss the ideal properties of a monetary good, and why Bitcoin is superior to precious metals like gold and silver as money.

1) Gold and silver are more prone to centralization and capture, because it is much more difficult to move them around, store them, assay/verify them, etc.

2) Because gold and silver also have industrial uses, commodity demand for them can distort their signal as pure money.

Of course, gold has a 10,000 year history, while Bitcoin does not. So did the horse, before it was supplanted by a better technology (the car).

Not investment advice! Consult a financial advisor.

Executive Order 6102:
https://en.wikipedia.org/wiki/Executive_Order_6102

Satoshi talks about a grey metal:
https://satoshi.nakamotoinstitute.org/quotes/economics/?order=desc

Germany repatriates $31 billion in gold:
https://money.cnn.com/2017/08/23/investing/germany-gold-reserves-new-york-paris/index.html

Car being pulled by a horse:
http://4.bp.blogspot.com/_i_AovfzNXgQ/TRkEX7UZNJI/AAAAAAABZwM/Z7_9sdR2syE/s1600/Horse_drawn_US_Mail_car.jpg

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I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#bitcoin
#gold
#silver

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