Comment by popol12
14 days ago
Gold was the reserve asset for most part of human history and was less spendable than bitcoins (harder to divide some gold than to send a fraction of a bitcoin).
Who keep it stable ? Well, who keeps gold stable ? Once an asset becomes the reserve asset, it becomes the standard and other things are priced in that unit, or in units derived from it (here's a kilogram of beef, I'll sell it to you for 2 British pounds which are worth x units of reserve asset)
But maybe you're talking about the stability of its inner properties (its supply, for instance). That for sure is not as stable as gold's. But is its distributed consensus stable enough ? That's a good question. So far, so good.
No comments yet
Contribute on Hacker News ↗