> Today gold have some advantage over bitcoin in that it has some intrinsic value.
For humans, the only things that have 'intrinsic' value are air/oxygen, shelter, water, food. (Notwithstanding things like joy/happiness and being loved by others.)
Anything else is an arbitrary / psychological trick, or sociological agreement, that we do amongst ourselves. Rocks are just part of this latter mechanism, regardless of whether they are shiny or not:
For humans, the only things that have 'intrinsic' value are air/oxygen, shelter, water, food. (Notwithstanding things like joy/happiness and being loved by others.)
Anything else is an arbitrary / psychological trick, or sociological agreement, that we do amongst ourselves. Rocks are just part of this latter mechanism, regardless of whether they are shiny or not:
* https://en.wikipedia.org/wiki/Rai_stones
> The maximum supply is capped at some number.
A fixed money supply is a bug, not a feature. The historical record shows this:
* https://archive.is/https://www.theatlantic.com/business/arch...
* https://www.moneyandbanking.com/commentary/2016/12/14/why-a-...
* https://en.wikipedia.org/wiki/Long_Depression