with V ≈ 0, since gold isn't used for many transactions? (AFAIK)
Why hasn't gold stabilized entirely? Are there reasons why it's affected by capricious international politics or policy, but Bitcoin won't be?
If I had to guess, I'd say that Bitcoin, like gold, will be affected by e.g. future economic delveragings that cause people to expect that the government might print money.
> Are there reasons why it's affected by capricious international politics or policy, but Bitcoin won't be?
Well not being used for transactions probably makes it less stable. Gold is mostly just an investment, which means it can vary a lot based on the other available investment vehicles. Bitcoin has many real world uses, which I think will add stability.
Why hasn't gold stabilized entirely? Are there reasons why it's affected by capricious international politics or policy, but Bitcoin won't be?
If I had to guess, I'd say that Bitcoin, like gold, will be affected by e.g. future economic delveragings that cause people to expect that the government might print money.