The main problem not mentioned in this article is that both gold and bitcoin are commodities, whereas ‘money’ (in the context of any civilization) is credit/debt, created by the state. Yes, banks also create money by issuing credit (loans). But bank deposits are ultimately redeemable for reserves, and reserves are issued by the state.

I don’t think this is something bitcoin can overcome. It’s just a different type of ‘thing’ than money.

Corporate accountant and former auditor with degrees in philosophy and accounting.

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