One that can be transacted without requiring infrastructure and preferably representative of something.
One that can be transacted without requiring infrastructure and preferably representative of something.
Can you think of one example? And think about that before you spout Boomer-logic like "gold", because the infrastructure to mine, secure, and transport that is massive.
Can you think of one example? And think about that before you spout Boomer-logic like "gold", because the infrastructure to mine, secure, and transport that is massive.
Any physical currency fits my first point, I'd like to transact without requiring infrastructure. The fact that anyone with a bit of knowledge in geology can go out and pan or mine for gold means large infrastructure isn't an absolute requirement for a gold standard.
Any physical currency fits my first point, I'd like to transact without requiring infrastructure. The fact that anyone with a bit of knowledge in geology can go out and pan or mine for gold means large infrastructure isn't an absolute requirement for a gold standard.
Try doing that for large transactions, particularly at a distance. That's trivial for cryptocurrency, but costly, slow, and expensive to secure if you're using gold.
Try doing that for large transactions, particularly at a distance. That's trivial for cryptocurrency, but costly, slow, and expensive to secure if you're using gold.
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