The convertibility between money and gold has stopped in the 70s. Bitcoin allows... | Hacker News

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plopilop on July 14, 2023 | parent | context | favorite | on: Binance lays off over 1k Employees

The convertibility between money and gold has stopped in the 70s.

Bitcoin allows for instant money transfer, and so does Visa.

The fact that bitcoin has no collateral is a whole other topic.

RestlessMind on July 15, 2023 | [–]

Bitcoin allows for instant Bitcoin transfer. The fact that it can be converted for money is a separate angle.

> The fact that bitcoin has no collateral is a whole other topic.

That's actually the main topic. Both Gold and Bitcoin are valuable because we as a society decided that they are valuable.

parineum on July 15, 2023 | [–]

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