- 31 October 2022 (124 messages)
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let's see how this will evolve. few countries want to re establisch some kind of gold standard and get rid of the usd as world standard currency , gold (paper) is manupulated quite a bit and real gold is moving from the west to china , russia etc... if a new gold standard arises price of gold might go volatile (if you express it in dollar and other fiat) -
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not saying it would happen but gold could go from 1600 to 5000$ over night when a large enough group would consider to reinstall the gold standard -
Yeah but then 1600$ would drop to 5000$ in value -
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Meaning 5000$ would be equal of what used to be 1600 -
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Yes, the demand of gold is pretty constant, so is the supply. In case of market crashes and high essential prices, gold rises. In times of good markets and low essential prices gold falls. In terms of effective relation gold still keeps having similar values versus essentials. Short time changes don't make this invalid. Also, while gold can cost half or double vs essentials or specific essentials can change its price, overall gold is used as long term messure of economy still. -
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I mean, can and should... the one having control over the unlimited nature is the one this all depends on. You can keep track of it, yes, but if its unlimited for everyone there is no inherent worth. The worth is its limited nature or what the unlimited nature is backed by (stable coin... fiat).
The question of what something is worth is always about availability and demand.
And for NCR it is the "oh yea, its a limited amount. We give everyone that sponsors us some of this coins that are inherently worthless but limited. If this project succedes you can show how much you supported that project. And if its simple to pay ingame with it, it will be worth whatever this convenience is worth to people"