People have traded gold for a really long time. With accurate measuring devices and the internet for variable prices, why do people use individual nations currencies and crypto which are often unstable?
In: Economics
Why bother with gold when there are cheaper and more serviceable alternatives? What makes something money is widespread acceptance, not that it has some inherent value. Pointing out that the internet and accurate measuring devices make trading in pure gold possible sounds ridiculous when I don’t need any such things to trade in the bills and coins I’m using right now. Fiat money also can’t be debased and isn’t subject to fluctuations in commodity prices like money made out of a commodity.
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