How a Bitcoin System is Like and Unlike a Gold Standard

in #bitcoin • 6 years ago (edited)

This article discusses various ways that Bitcoin is like and unlike gold. Currently, there are a couple of addition important differences as well. Namely, the relatively high transaction cost and slow transaction times associated with Bitcoin.

Economists are interested in how a monetary system based on Bitcoin compares to a gold-standard monetary system. Both Bitcoin and gold are stateless and both provide a base money that is reliably limited in quantity. However, Bitcoin and the gold standard are obviously different in other ways.

Source: How a Bitcoin System is Like and Unlike a Gold Standard - Foundation for Economic Education

#cryptocurrency #money #gold #economics
6 years ago in #bitcoin by
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