Yes and no. If the currency is Gold Backed. Then gold will be valuable to the average person, meaning you can effectively buy things with gold coins because converting them to digital should be very easy.
The point of digital is to eliminate the ability of people to transact in anything other than the beast's currency, which he can cut your access to in a heartbeat.
The point of digital is to eliminate the ability of people to transact in anything other than the beast's currency
Yes, but if you back it with something, that thing becomes valuable. Youre right, you cant buy things online with that, but you better think that anyone worth their bartering salt would still buy/sell with 'that thing' (gold)
You're better off trading with the thing that it is backed by, because the State can't shut off your access to something you physically hold like it can with a State issued crypto. Once they deactivate your wallet and you won't be able to redeem for the backing asset anymore.
Yes and no. If the currency is Gold Backed. Then gold will be valuable to the average person, meaning you can effectively buy things with gold coins because converting them to digital should be very easy.
The point of digital is to eliminate the ability of people to transact in anything other than the beast's currency, which he can cut your access to in a heartbeat.
Yes, but if you back it with something, that thing becomes valuable. Youre right, you cant buy things online with that, but you better think that anyone worth their bartering salt would still buy/sell with 'that thing' (gold)
You're better off trading with the thing that it is backed by, because the State can't shut off your access to something you physically hold like it can with a State issued crypto. Once they deactivate your wallet and you won't be able to redeem for the backing asset anymore.
My point. Backing "state asset" with gold, makes gold valuable to everyone.
Thanks for the pointless thread.