Bitcoin Forum

Hi all, I am sorry if this is the wrong place to post/a noobish question etc. I am writing a paper on Bitcoin (which is needed as there is not a lot of academic works on Bitcoin) and I want to compare Bitcoin to the gold standard. I don´t know how you dedicated Bitcoin enthusiasts feel about the gold standard, but personally I do see some similarities (limited supply, restricted room for action/manipulating the currency supply etc).

What is your take on Bitcoin vs the gold standard? How is it similar, and how is it different, and how is Bitcoin better? What do you think of the future of Bitcoin, especially problems related to inflation and high fluctuations in the value of Bitcoin vs the Dollar?

Also if anyone has good papers or articles on Bitcoin and the gold standard links are very much appreciated.

Thank you.

Maybe interesting fields of research:

(1) The ability to mine for gold is determined by the natural resources available to a private or public entity. The ability to mine for bitcoins is determined by the amount of capital (investment needed into computing power) available to a private or public entity.

(2) The gold standard effectively eliminates exchange rates between countries (so-called price–specie flow mechanism). Bitcoins are international, hence they will do the same.

Bitcoin is digital gold in my opinion.

Much better than the gold standard, we directly trade with gold  :D

And don't forget that the real problems with the gold standard weren't due to the gold, but to the standard.