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Requiring trust is not a positive aspect of currencies. Gold and silver succeeded in large part because they can be verified.
by AboutTheWhisles 8y ago
Requiring trust is not a positive aspect of currencies. Gold and silver succeeded in large part because they can be verified.
- manigandham 8y agoGold and silver have nothing to do with currency, and they can only be used as such through trust in a currency system by participating people. There is no such thing as a trustless currency.
- AboutTheWhisles 8y agoThis is completely untrue to the point of being the polar opposite of reality. Look up the attributes of ideal money. Gold and silver are the original currencies. They are trustless because they can be verified easily and transferred physically. The more trust a currency requires, the less valuable it becomes due to decreased fungibility and liquidity.