In "The History of Interest Rates," Homer and Sylla 📚 show a 5,000-year process of decline in interest rates.

🧵As individuals lower their time preference and accumulate more capital, their productivity increases, resulting in...
                                                                                                     
An incentive to further lower their time preference.⌛
 
''The move toward harder monies with better salability across space and time can be viewed as a contributor to the epochal decline in time preference by allowing humans better savings technology, making the future less uncertain for them, and thus making them discount it less, resulting in more savings, and thus more capital available at lower interest rates.''-Saifedean Ammous. https://image.nostr.build/4ea1671020ac6bf6e2ad352eb9180e7d04a8eb8b2f2d75a45a145d8baaaa6887.jpg  

 Which store of value will emerge as the preferred escape from the fiat flood in the digital age?

✅Gold: 5000 years of history
❌Bitcoin: 14 years of history

🧵Gold may have the history, but let's explore deeper...

"Bitcoin’s open-source software is scalable and upgradable, enabling its users to affordably control their own money, whereas gold’s physicality makes its use only affordable to State actors who can subsidize its security."-Pierre Rochard.

Is gold too centralized to scale in the digital age?🤔 https://image.nostr.build/b15aa3e5b4d14a064076675dd006e1f2ffb023d2d53d26b23598792a850ade83.jpg