Mmastodon BusinessCrypto first seen 15 h ago, last 12 h ago, peak #9

Debate over what really makes gold good money

Original: Thus I've tended to think about alternate physical definitions for a # currency . The # crypto folks think it's all abou

A discussion is underway about what fundamentally defines a currency, challenging the idea promoted by cryptocurrency advocates that scarcity is the key property. The argument holds that gold's value as money came not from its rarity alone, but from other physical characteristics that made it suitable, with the exact reasoning cut off mid-explanation. Replies so far are minimal, but the debate over scarcity versus utility as the basis of money continues.

Why now: Ongoing debate about whether scarcity alone justifies cryptocurrencies as money

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Rank over time, top of the chart is #1. 3 snapshots from 15 h ago to 12 h ago.

Evidence

• Thus I've tended to think about alternate physical definitions for a # currency . The # crypto folks think it's all about scarcity but that's wrong: the reason gold is ideal for currency isn't because it's rare (although the rarity does contribute value) but because it's… · mxchara@cyberpunk.lol · 1

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