Ethereum: 1000x from Here
Crypto’s biggest winner will replace gold as state-free, global money.
Gold as a Currency
Some people claim that gold has accrued value due its usefulness via jewelry and smartphone manufacturing. However, jewelry is inherently unuseful and the amount of gold used in smartphone production is negligible: $1.82 worth of gold per smartphone, which, at 10bn smartphones, renders $20bn of utility, a far cry from gold’s $8trn market cap. Thus, gold’s success as the world’s store of value can be attributed…