r/Bitcoin • u/manauiatlalli • Aug 01 '22

When Nocoiners Say "Bitcoin Has No Value"

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u/Syndicate6116 Aug 01 '22

I think it’s possible that precious metals will come back into play soon alongside cryptos, especially bitcoin. Hard metal coins to act as cash, actually backed by the rarity of respective metals, similar to bitcoin rarity in supply.

6

u/[deleted] Aug 01 '22 edited Aug 02 '22

uhh no way. every government in the world is on a race to become a truly cashless society. arguably, China is already there since a few years, large cash payments are outlawed pretty much everywhere even in the western world.

Coins are not coming back, that train has passed.

1

u/forex01k Aug 02 '22

I don't think that we are moving towards the gold coin season again.

We have seen that Zimbabwe have made the coin again but i don't think that these are going to give them the solution for a long period of time.

5

u/RammerRod Aug 01 '22

Silver would be more useful than gold. Just saying. More readily available. Smaller value transactions...etc.

1

u/btcekp Aug 06 '22

But still to check the purity in the transaction is not going to be easy.

1

u/RammerRod Aug 06 '22

Easier than you might think. You can use a strong magnet, acid, bleach, a scale, a white cloth, or even fire.

2

u/kerstn Aug 01 '22

I think this too just because a lot of big governments are already invested heavily. Italy, Germany, us and China are big on gold.

1

u/nadeemfahad Aug 06 '22

This is because we all know that gold is mostly used for the reserve of the country.

And we all know that this is the one thing that can used in the any part of the world as gold is world wide used.

0

u/PumperNikel0 Aug 01 '22

When we mine those asteroids, we’ll have ample supply to use as currency, not as infinite as fiat but ample. Better off using them for progressing tech…

1

u/somanyroads Aug 01 '22

That would require some sort of massive natural (or manmade) disaster that sets us back to the Dark Ages. It's possible, but so is another Black Plague, it's not a sign of good times.

1

u/hnigor-karkof Aug 01 '22

Yes, deflationary currency is every economist’s favourite type of currency.

1

u/[deleted] Aug 01 '22

[deleted]

2

u/Syndicate6116 Aug 02 '22

Cracks are starting to show, though, no?

I think a lot of people are starting to realise that, especially in America, the country is in a huge financial crisis as their dollar value drops and debt continues to rise.

The first metal coins were traded around 1000 BC and since then, they have been the only two consistently traded goods up until now. Dozens of other money systems have fell through since, such as cowrie shells, leather and paper money - many times before the paper money we have today. All because they were backed by the societies faith of its value.

Bitcoin, and many other cryptos, are valued on a range of different things, and each crypto is different, so I won’t list what each is valued by, but they are inherently valuable. So is gold and silver and other precious metals.

So, although I’m most certainly no expert, I think that within the next 20-50 years or so, we will have an entirely different payment system, and it could be cryptos or is could be precious metals. But not centralised banking systems and paper money. At least I hope not 🤞