Silver isn't worth as much as gold for many reasons, but two being that it is more abundant than Gold, which speaks to the natural economic balance that results where Gold and Silver are priced in a ratio that is very similar to their relative ratio of abundancy in the real world. Second, Gold is superior in its industrial use. You can easily look this up but to be brief, Gold doesn't corrode, which then doesn't degrade its electric conductivity and improves its use in many other things as a result. Gold interacts differently with other metals and even other non-metals. If manufacturers had their chance, they would use Gold or compound their metals with Gold for all their manufactured goods. Only reason they can't is because the price is too high. If we found an asteroid that was solid gold, manufacturers would flood to use it in every way possible. The same cannot be said for Silver. While silver does have its unique use cases and is used as a Gold substitute, it often comes with compromises.

Thanks for your comment! I would ask of course to name some of these many uses of bitcoin and how they relate to the claim that bitcoin is money, which is the main claim I am making here.

The only reason Bitcoin is not money is because it is not universally accepted, and in short time this will change. Most people don't accept silver and gold bullion as a method of payment, either; and this won't change unless something catastrophic occurs.

@@psykatic exactly my point! It is not universally accepted as money because it is not and cannot ever be money! Bitcoin has no use case, and saying its use case is its use as money does not count due to circular logic.

@@thegoldenquestion saying it has no use is your opinion. It's already proven to be a reliable unit of account, and it is currently used as a method of payment by a large number of merchants which grows everyday. And considering the fact people that hold Bitcoin instead of converting it to cash proves that they consider it to be a store of value. You saying it is useless is like saying KZbin Music has no value because you don't physically purchase the music that you listen to. But, even this example doesn't translate well because the digitization of music makes physical albums practically worthless whereas bitcoins digital scarcity makes it more valuable. You should probably do more research on its proof of work system which was the selling point for me. Bitcoin isn't going anywhere and it's not going to zero. Adoption will be exponential as nations begin accumulating. When bitcoin is widely accepted by 51% as a method of payment you will be forced to backtrack your premise.

@@psykatic Lets address your points one by one. Something having a unit of account is not a use case! A method of payment is not a use case! These are roles that currency can fulfill but not a standalone use case. A use case is something you can physically do with the asset apart from the function it can fulfill. Again, this is a circular logic problem because you are saying Bitcoin is used as a method of payment and that method of payment is bitcoin itself. A method of payment is way to use another asset as a method of payment. A credit card is a method of payment to transfer cash. A Bus is a method of transportation and that is transporting people. Bitcoin cannot be a method of payment to transfer itself. Gold being using dentistry, aerospace, and jewelry are use cases. Second, what value is bitcoin exactly storing, what can I do with my bitcoin other than give it to someone else? Lastly, music, even though is digital, has physical use because you can convert those 0s and 1s into playable music that you can actually hear, producing sound waves in the real world. You can't convert your bitcoin to anything physical in the real world. I appreciate your points and look forward to reading your counterarguments.

Always 👍

The first lesson I learned is that there is no such thing as cheap gold and silver .

@@dancerscc that’s a great question. I did not take the time to consider it, but I guess I’m not really a collector, more of a stacker. Great point, I’ll make to sure to mention it in my next video!

Gday Silver stallion

@@kaynef6637 thank you! You too buddy 🤙

Yes slowly learning more and more about the history.

Haha, it will be quite a journey! Thank you!

Sorry! I realized I wasn't using my Rode mic and instead was using the built-in mic, this will be fixed in my future videos God willing!

I would be delighted to invite you to an episode of the podcast where we can hash out of disagreements. To address your points: 1) Capitalism defined is the formation of capital, it is in the name. Nothing is mentioned about power. Power ultimately lies with the government, and that is coercive power that we care about. Power with respect to influence is meaningless in the grand scheme of things. The rest is just conjecture that again we would need to hash out on a debate. You called power greed? I would argue that power and influence lies with those that can best effectively channel their greed for the good of mankind. Everyone has greed as we all can agree but Capitalism is a system that rewards those that use their greed to the formation of goods and services for the betterment of mankind. Those who channel their greed and instead steal are truly those that exploit. I don't see how a businessman is using his greed to exploit unless he is stealing from others. As long as he is running his business in a purely voluntary fashion, he gets rewarded with his endeavors and that reflects the correct channeling of his greed. Again, I invite you to discuss your disagreements on a podcast session.