<H6>Gold, that Beautiful, Barbaric Relic (source)</H6>

I was reminded today

of the deceptively over-valued “glitter of gold”…

Alchemists had the right idea, in part:

Given appropriate incantations (along with enough energy), transmutation of* base metals into gold* is certainly possible… However, they overlooked the logical consequence of their folly:

Proliferation inevitably tanks gold's monetary value.

Whether you mine it from the Earth, create gold in unlimited quantity by transmutation, or extract it endlessly from seawater (or the asteroid belt), gold’s lack of scarcity will ultimately be fatal to its use as a store of value.

Henry Ford and "Bucky" (Richard Buckminster) Fuller

saw the future when they recognized the value of energy as a fundamental yardstick for wealth; Satoshi implemented it in bitcoin’s energy-based Proof of Work and Artificial/Engineered Scarcity.

ONE DAY Soon...

…likely much sooner than you may think… we’ll all be hauling that clutter of annoying, dust-covered gold knick-knacks we’re tired of tripping over, down to the Good Will Resale Shop for someone else to use as paperweights…

Meanwhile,

<H6>The future of money, bitcoin</H6>

"He who has an ear, let him hear..."

Keep on front-running the sleeping masses; stack your bitcoin satoshis, the premier, demonstrably scarce yardstick of value.

Duncan Cary Palmer is the compulsive writer whose musings you’ve just consumed. These days, he hangs out mostly here on nostr, but you can find an extensive archive of his eclectic writing (poetry, fiction, theology, tech) HERE and (most recent entries in reverse-chronological order)HERE.<BR> More than anything else, Duncan values his readers, especially when you engage him with comments; but he won’t turn down your zaps.

#bitcoin #gold #metals #ValueForValue #V4V #energy #ProofOfWork