[alangibson]

Gold was chosen not because it's rare (it's not, compared to many other metals) but because it's pretty and inert. Scarcity is not a desirable property of money if you like economic activity. There's a reason why we dump it in the economy when there's a downturn.

[arbawk]

Its stock-to-flow ratio is the highest among metals, it is also divisible (although not easily), durable, portable, etc. which all make it desirable. However it's worse in most of these categories when compared to Bitcoin.

Scarcity is a desirable property of money unless you like the Cantillon Effect. https://en.wikipedia.org/wiki/Richard_Cantillon#Monetary_the...

Early monies like shells were often abandoned when a new supply was found as it allowed for precisely this re-allocation of wealth before re-pricing occurred.

If you'd like to see where money was dumped into the economy endlessly, you can look at Weimar Germany and the value of its currency thereafter. https://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_R...