Kasz216 on 17 April 2013
| Mr Khan said: It does make the whole concept of the gold standard seem rather silly, given that its only advantage over fiat currency is that a country has to tweak its balance of trade in order to mess with its currency values, rather than just ordering money printed or buying up a hell of a lot of assets to alter supply. But the underlying idea is still about arbitrarily assigning value to something. Granted, gold is also a very useful metal, similar to Platinum or the Rare Earths. |
Seems like an important advantage though if you've been following Bitcoins. Which have skyrocketed in value when literally that's it's only advantage vs real currencies... and it has tons of disadvantages.
