John Griswold
2 min readFeb 14, 2021

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Gold is no longer a currency, it's a speculative commodity. There's no form of raw gold you can take into a restaurant, hardware store, or mortgage broker and make a purchase, no form a bank will except as a deposit. If you want to use the equity you have in a gold ingot you first have to convert it to an actual currency.

You may well be able to a BTC debit card to buy a pizza, you'd probably be a fool to do so. The debit card would convert a portion of your BTC equity to an actual currency to make the transaction, and if you owned BTC for the reason that you say corporations are you'd be throwing some measure of that appreciating equity...why would you choose to do that, other than to take some profit?

I repeat, BTC can be a speculative commodity, as it is now, or it can be a currency. It can't be both. If BTC did what you would probably not prefer, if it increased the number in circulation to stop it's appreciation, then both buyer and seller could safely except it as a medium of exchange to make sales and purchases. Both would take no risk, either in excepting it as payment or tendering it as the same. This is the reason that ACTUAL currencies work so hard to keep their exchange values within tight volatility ranges, no seller wants to except an inflating currency and no seller wants to tender a deflating one.

Wouldn't hurt you to do more research, as well as thinking a little. That is unless you are just trying to shill for BTC to drive up its price.

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John Griswold
John Griswold

Written by John Griswold

Master carpenter, watercolor artist and beat up old jock…owned by Black Lab Bo who considers two tennis balls a minimum mouthful

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