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Topic: Does much of gold's market cap eventually go to Bitcoin? - page 4. (Read 9070 times)

legendary
Activity: 1722
Merit: 1003
I consider bitcoin to be mostly a monetary superset of gold. I use the word "mostly" because bitcoin is not physical, is (currently) not recognizable by the general population, and cannot serve a purpose in a non-electronic society scenario.

But obviously it has all of gold's other qualities (the ones that provide most of gold's inherent utility/value), and usually does them better (eg, divisibility, known/limited supply, durability, etc). Plus totally new, and desirable, qualities (transactability, etc).

So....in the rosiest of scenarios for bitcoin and humanity (ie, still a coherent civilization that involves electronic technology, no big flaws found in bitcoin, etc), does bitcoin simply replace gold since it's inherently more desirable in such a world....ie, some corollary of Gresham's law in play...?


(please note that for the purposes of this question, I'm pre-supposing that there's been no 51% attack, gov hasn't killed bitcoin, protocol is still solid and scales ok, etc, etc...)

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