Gilder argued for fixed price and variable supply, not sure he pinned it to gold. The fixed rate of one BitCoin block per 10 minutes is similar to how Gilder asserts the amount of gold produced per unit time, i.e., "time-value" of gold remains constant.
Post by twetch#106
Ahh. Ok. Thank you for that clarification; I'm still trying to wrap my head around his perspective, as I feel like there is something to what he is saying. It's still not clear to me how it would all come together. If clear to you, please elaborate.
What the chain says
- Block
- 623 188
- Time
- 2020-02-22T15:16:14Z
- Signer
- 1GZvdAfHyiKJpuBXAobK3itKWDBp3njGWn
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#106
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
1GZvdAfHyiKJpuBXAobK3itKWDBp3njGWn VerifiedReplies (8)
Likewise.
I also liked Gilder's association of how time with everything because it boils down to frequencies (temperature, speed, etc). He mixed in measurements (meter, kilogram, etc) as well, which I struggled to find the relation (vs km/hr, wifi freq).
Agreed. Waves, all waves, are an expression of motion through some medium over time. Current is flow of energy and is a wave. No coincidence that currency has the same root word.
As for rate of mining blocks vs mining physical gold, there is a key difference that make the comparison inadequate, imo:
- the option to stop mining entirely
Gold mining can stop & transactions can continue with mined gold. Bitcoin mining can't stop.