The costs of transfering gold vs bitcoin

Discussion in 'Economics' started by Daal, Mar 10, 2021.

  1. Snarkhund

    Snarkhund

    The way things are going you won't need to convert to USD and won't want to.

    In a dollar collapse situation you would likely see retail accept crypto as payment directly assuming there is a grid and assuming there are functioning crypto networks.
     
    #11     Mar 14, 2021
  2. Crypto is useless as a medium of exchange. It primarily functions as a GFT HYIP game. Transaction times, costs and huge price swings makes it a no-go.

    Could you imagine If a loaf of bread cost 10 cents Monday, 2 dollars Tuesday then 50 cents wed and 1.45 Friday.

    Or imagine selling a house and you get paid in bitcoin but a week later you can't buy a home anymore because the BTC volume dropped 40% in a week.
     
    #12     Mar 14, 2021
  3. what if big banks get together and give their support for gold (they're loaded enough with all those cash, jewel, asset,...), and make it some sort of hush-hush quasi gold standard (instead of chasing after those crappy cryptos). or intrinsic value has no bearing practical meaning?
     
    #13     Mar 14, 2021