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Re:Why gold and Bitcoin are popular by tablespoon on Monday June 14, 2021 @01:12AM (#27499492)
> I've read a fair share of Austrian Economics and they certainly don't believe that gold was an awful reserve.

Have you read a fair share of other schools of Economics, or did you just focus on Austrian?

Re:Why gold and Bitcoin are popular by lowkey on Monday June 14, 2021 @02:19AM (#27499810)
I’ve read Keynes et al as well. None of them make a compelling case against the gold standard.

Here is former Fed chair Alan Greenspan’s bullish case for the Gold standard for example [1]

[1] http://www.altavra.com/docs/thirdparty/gold-and-economic-fre...

Re:Why gold and Bitcoin are popular by imtringued on Monday June 14, 2021 @07:57AM (#27501535)
>they would have to resort to primitive barter

This is a common myth used to support a gold standard and it's wrong. Barter was rarely practiced because it is too impractical and theoretical. Ledgers and debt existed as soon as imbalanced trade existed.

Paying later is a form of debt. Paying too much is a form of debt. In tribal communities people simply kept the ledger in their head. Some of them used physical objects to remind them of their debts but that is not any different from writing numbers into a notebook.

Common ledgers were tally sticks [0]. You just take a long object and use a knife to mark how much debt you have. They even had a resurgence in medieval Europe because of a shortage of precious metal coins.

[0] https://en.wikipedia.org/wiki/Tally_stick

Re:Why gold and Bitcoin are popular by lowkey on Monday June 14, 2021 @10:16AM (#27502777)
These are all good points and I agree with them, but I don’t understand where the quote came from and whether you are making a case for or against the gold standard.