Discuss “Gold as Money” below.
I can relate very well to the Periodic Table, Eliminating the other Gases,Metals.
It is rare enough to make it difficult to overproduce and malleable to mint into coins, bars, and bricks.
Gold Salability :
- scale - value is hard to subdivide as it requires special equipment
- time - good value storage over time, does not degrade purity
- space - can be hard to transport, be danger to carry, can be stolen or lost
- should be rare, having demand due to some useful application
- stock2flow - flow rate of change of total supply, or inflation rate over time, gold is about 1.6% per year
- it is a solid physical metal with no ‘opinion’
I think we can all agree that gold woulnd be practical today, that is why bitcoin & crypto is a good candidate for money in this digital and fast age.
Gold is unique and even among 4 other metals the one that has the longest history of acceptance as a medium of exchange. It is rare, portable, scalable, fungible and universally accepted. The phrase that gold is money and everything else a form of debt is true because gold doesn’t have a counter liability.
When were discussing the periodic table I think you’re trying to say that there’s no alchemy.
Sure there is alchemy !
I think it no secret that today it is technically possible to make gold out of lead.
Just shoot at it with the right ammunition and it will convert.
Although it is pricier to mine bitcoins as of today.
As pepemadrid already stated: GOLD is money, Fiat is basically dept.
The big mistake we basically make is to evaluate anything with $ or €.
This is just virtual because basically worthless.
We are blinded by currencies and big figures evaluating the value of anything.
Even when we look at gold we evaluate it’s value in a currency.
It’s not that the value of gold rises, it’s that the value of the currency decreases.
Basically we should evaluate anything in gramms of gold.
I think the best investment you can do is in gold (not bitcoin).
Anyway i also buy bitcoin, but it’s a bet, not a longterm investment.
Gold has all the elements of money + a store of value which is why it has survived as the money of choice over centuries. However you cant take gold to the grocery store today and make a purchase or shave off the correct ounces and expect the grocer to accept it. With bitcoin and stores that do have payment systems setup or with crypto debit cards it is possible to spend bitcoin on groceries as an example and other goods and services.
I can’t imagine carrying around gold today. I can see why it was used in the past but not today.
World elite is stockpiling gold. That is how they are not scared to bring this economic crash through lockdown, it won’t affect them, only the general public.
The day is coming when you bring any form of gold to the exchange and you will get a crypto in return to buy other goods.
Gold is real money, it is limited in supply and incurs costs to create.
Along with Silver, it has been, and remains a medium of exchange over thousands of years, throughout civilisations all across the globe.
It is one of the most durable things in existence, is portable in small amounts and it is divisible, making it a good store of value.
Gold as money was adopted due to its elemental properties. It’s the most salable and neural element with the right amount of scarcity. This is why it’s preserved it’s value over time and was adopted as money. The other elements on the periodic table are either impractical, radioactive/reactive, decay with time, or too rare/abundant. Currency today lacks scarcity which gold has which is why currency continuously fails throughout history.