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Author Topic: 2012-04-27 Gold is a physical element, Bitcoin is an abstract protocol  (Read 737 times)
PawShaker
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May 07, 2012, 07:25:24 AM
 #1

Gold is a physical element, Bitcoin is an abstract protocol

April 27, 2012 By Sy Nejem

[...]
Enter Bitcoin. The structure of this phenomenon is such that it is functionally similar to gold, but has no absolute corporeal presence. Its abstract, intangible nature secures it firmly in the monetary realm. This means that a shift in thinking may be in order, adjusting the arrangement of Exter’s Pyramid yet again. Considering the real estate and physical commodities section as referring to the contracts for those assets, the new form includes Bitcoin.
[...]

http://bitcoinmedia.com/gold-is-a-physical-element-bitcoin-is-an-abstract-protocol/

A little bit old, but I found it quite thought provoking.

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