Bitcoin vs. The Bitcoin Standard: What Is The Difference?

This question can best be answered with another question. What is the difference between gold and the gold standard?

Dubai Gold Jewelry Store

We all have an idea of what gold is. These ideas vary depending on our background. A prospector will have a vastly different understanding of gold than a typical fiancée shopping for a wedding ring in a jewelry store.

Vein Of Gold

And a chemist or physicist will have a different understanding of gold than an economist.

A chemist values gold differently than an economist.

And, of course, no two economists ever agree!

Economists Never Agree! Gold, Bitcoin, Legal Tender? What is sound money? Or should money even be sound?

My point is we all have a different idea of what gold is. While the element of gold is a known constant the ideas that impute value on gold vary widely and change constantly.

The idea that gold has value as jewelry is not intrinsic but imputed in the marketplace by men and women…