OP, your post is very confusing and I suspect you're confused.
If you mean "gold standard" as a metaphor or whatever, then yes bitcoin is already that.
If you mean a literal gold standard, meaning btc being backed by gold--there's no need for that and it's already been dismissed as being a silly idea.
Or maybe I'm the one who's confused.
If you mean "gold standard" as a metaphor or whatever, then yes bitcoin is already that.
If you mean a literal gold standard, meaning btc being backed by gold--there's no need for that and it's already been dismissed as being a silly idea.
Or maybe I'm the one who's confused.
Yeah, that's how I read the OP as well... but I think he means for cryptocurrencies in general. I truly believe though when it comes down to a point where fiat no longer is a viable option and everyone is buying into assets and other commodities, then it will come down to a point where bitcoin will be used for purchasing goods, that is not backed by the USD or any other fiat any more; but rather it would be priced in gold.
Fiat was always intended to represent something else other than "trust" in government. It was originally designed to carry a specific amount of value in gold. After this was dropped some time back, the only thing that keeps fiat like the USD around is trust in the government to control inflationary rates and so forth. So when this system collapses, the only reasonable thing to do is to have bitcoin priced in gold like fiat was before hand.
