[ExI] Gold

[Gordon]

Brent Allsop <brent.allsop at canonizer.com> wrote:


> And the most important part of all this, if you have a currency that can't grow at all, like Bitcoins, it would be catastrophic, since it would soon start to even suck  money away form the stock market.  

Perhaps I'm missing something, Brent, but your Armageddon scenario makes no sense to me. One could buy stocks with bitcoins. And people who made millions in bitcoins could buy even more stock. Bitcoin is just another commodity, similar in many ways to gold or silver or oil or even dollars (yes, all currencies are commodities). This commodity is currency-like in that it lends itself to commercial transactions. It is gold-like in that it is intrinsically scarce.

> You wouldn't get anyone willing to invest in any start up anywhere.  
> Why do that, or why invest in any other currency, when you have a guaranteed 10 times in  2 year return, with Bitcoins, 

Show me how anyone is guaranteed to make anything in bitcoins. Who/what stands behind that guarantee? The so-called Law of Bitcoins (or whatever you call it) is merely a theory.

Gordon
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