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21 sats \ 4 replies \ @IanMalcolmPhd OP 14 Nov 2023 freebie \ parent \ on: Will gold be used alongside Bitcoin in a hyperbitcoinized world? bitcoin
Central banks use it, especially since 2019.
I'd say how its used right now is how it will continue to be used. How its used right now is pretty irrelevant to what we're trying to do with Bitcoin
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I think so, at some point. Maybe it will be used for larger transactions where on chain fees are high or there is no enuts/ecash/chaumian mint available.
I don't really know, which is why I asked this.
In a gold mining town in Venezuela, gold is used for retail. But that's an edge case. Perhaps it will be used in places without a tech infrastructure, for example in those Caribbean islands where coconuts are currently used as currency.
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i dont think both are related,
Gold have its own uses and even if btc is overextended, we dont have to stop using gold,
there are several uses, and store of value is included,
even in hyoper bitcoinization gold will be there as another store of value
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I think a better question would have been: will gold be used more than it is now as a currency in a hyper-bitcoinized world.
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