A gold backed digital currency would be awesome for exchange purposes. I too am an old man (well middle aged anyways) and lean toward physical over digital but I see the merrits of both.
16lbs of gold is a lot to carry on hand sure but not much in regards to the ability to possess securely.
My problem for digital currency being "the fiture" is just that if you base your wealth on something you can only see on a computer screen is what happens if the lights go out? What happens if something is hacked? What happens if someone else doesn't want your digital monies for purchase or trade? The two working together would be a great failsafe.
You theories of a death of Bitcoin, you can say the exact same with our funny money of today and even precious metals. System down- how do you get your 1's & 0's on a screen into your hand. Hacked- what about someone robbing your physicals. Someone does not want your digital- you gotta have trust that your physicals are real or weigh correctly. Bitcoin is trustless & fungible 1 Bitcoin is 1 bitcoin
Quick, convert it to gold and silver before BTC crashes!
(And before IRS tracks the address and comes for tax)
You're talking about close to 16 lbs of gold if my math is correct. Bitcoin is the future, old man
A gold backed digital currency would be awesome for exchange purposes. I too am an old man (well middle aged anyways) and lean toward physical over digital but I see the merrits of both.
16lbs of gold is a lot to carry on hand sure but not much in regards to the ability to possess securely.
My problem for digital currency being "the fiture" is just that if you base your wealth on something you can only see on a computer screen is what happens if the lights go out? What happens if something is hacked? What happens if someone else doesn't want your digital monies for purchase or trade? The two working together would be a great failsafe.
You theories of a death of Bitcoin, you can say the exact same with our funny money of today and even precious metals. System down- how do you get your 1's & 0's on a screen into your hand. Hacked- what about someone robbing your physicals. Someone does not want your digital- you gotta have trust that your physicals are real or weigh correctly. Bitcoin is trustless & fungible 1 Bitcoin is 1 bitcoin