Gilder mentioned how the time-value of gold has never changed. He said that though it requires exponentially more energy to mine it now, compared to during the gold rush, the same amount of gold is "produced" per unit of time. So, in a sense, they agree...
Post by twetch#106
First, good catch on the golf association...I was looking for his suggestion on what to pin it to, but never put that together, somehow. However, why do you say, “so, in a sense, they agree”? Gilder seemed to prefer unlimited bitcoin pinned to gold, right?
What the chain says
- Block
- 623 128
- Time
- 2020-02-22T05:31:34Z
- 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 (11)
s/golf/gold/
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.
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.
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).