Jan 5, 2021
4 min read
Why Bitcoin Is Not A True Medium Of Exchange
It’s Too Deflationary and Volatile
Why did the world go off the gold standard? It’s a long story but the gist of it is that shackling a nation’s economy to the amount of gold in its treasury was much too painful and unstable.
Under the gold standard there was a fixed price with which currencies could be converted into gold. One implication…
