IPFS News Link • Gold and Silver
The Great Gold vs. Bitcoin Debate: Casey vs. Matonis
• http://lewrockwell.com, by Andy DuncanCasey, a Bitcoin sceptic, notes that Bitcoin satisfies Aristotle’s definition of what constitutes “good” money in all but one important aspect: that it doesn’t have value in any kind of non-monetary sense, unrelated to its use as a medium of exchange. This is in contrast to precious metals, which have unique chemical properties and uses in an industrial context.