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Let bring back gold payments! There are already some institutions that offer gold certificates: notes that represent gold stored in some bolt and collectable on
by cies 3y ago
Let bring back gold payments! There are already some institutions that offer gold certificates: notes that represent gold stored in some bolt and collectable on demand.
It was a good idea all along and the reason that "gold back currency does not fit a growing economy" is BS if not properly substantiated.
- KaiserPro 3y agoThere is nothing stopping you from using gold as payment. But its not anonymous, if you want consumer protection then you need a contract (thats how gold is traded, and has been for many many years) You don't want to physically exchange gold, because verification of gold's value is super hard. In low volumes proving that you have the correct volume and purity is very difficult and expensive.
- sneak 3y agoThe problem with gold deposit certificates is centralization. There was one called Liberty Reserve that was catching on, but predictably they were raided and shut down.
- cies 3y ago> The problem with gold deposit certificates is centralization. I find fiat currency pretty centralized as well. So centralization is not very gold specific. There're even some "gold on blockchain" going on, which would --to some extend-- solve that problem.