Whether we use Bitcoin or all this simply will not go really far \ stacker news ~bitcoin

Oldest gold coin found is Lion of Lidia, arround 650 BC in Turkey.

Arround that time and before the human being was already using gold, but basically as mean of power and wealth in different forms brecelets, rings, necklaces,... and this was certainly because gold was an appreciatted metal. And as amatter of that fact eventually it was mint in coins with value.

Never, ever has been found any grave during an archaeological excavation with gold as such, always in forms of jewels that represent power and wealth, never as reserve of value.

Beecause if was an appreciatted metal it was used in coins as a method of payment and eventually, after many years of the use of gold coins as a payment method it was used a reserve of value.

I can not see any reason to believe Bitcoin will turn into a solid reserve of value if before it doesn't proof it works as a mean of payment.

There are no shorcuts in this race!

0 sats \ 0 replies \ @grayruby 4 Jun 2023

Intuitively this feels right but maybe not. Bitcoin is pristine collateral so there is a world where if enough breaks in fiat land I can see it underpinning all assets as a neutral reserve similar to gold without needing to be a broad medium of exchange.

I don't know how likely this is but plausible. I think this is why as bitcoiners we should pursue all avenues- store of value, medium of exchange, unit of account.