Because gold and silver is what would be backing the digital currencies, amongst other assets, that you can get your hands on!
Just so the point is clear - if someone says to you that the whole world should run on cash, would you ask them "If everything is cash whats the reason to buy gold and silver" ?
Decentralized Digital currencies and Paper currencies have a lot in common, with the digital version adding extra level of integrity and transparency, if implemented correctly.
because the US dollar is supposed to be backed by gold.
Why in heavens do you think thats the case? It hasnt been the case since 1973 when Nixon took US off the gold standard.
if everything is digital how do you turn gold/silver into anything?
Whoa whoa, slow down tiger. You are jumping to far too many assumptions. Firstly, no one said that everything will be digital. He is simply pointing out that 97% of the current financial system is already digital, and we need this digital part to be transparent and accountable, and hence it will be replaced by Genius Act based digital system.
And secondly, nothing changes wrt gold and silver. They continue to be commodities, but instead of manipulated markets, they will be traded in transparent and accountable markets with no paper manipulations etc.
if you do have gold/silver, won't the digital police say it's worthless, because you didn't turn it over to them and have them add it to your crypto wallet?
My fren, what are you smoking? Honestly, whoever is tellign you this, you have to stop listening to them and paying attention to reality.
if you have physical gold and silver and want to buy something from your neighbor when everything is crypto, are they going to accept physical gold/silver?
Again, read what I wrote above. There is no "everything is crypto". There will still be cash. There will still be gold and silver and whatever else you want to sell. In addition there will be digital currency thats fully transparent, accountable and privacy based.
Because gold and silver is what would be backing the digital currencies, amongst other assets, that you can get your hands on!
Just so the point is clear - if someone says to you that the whole world should run on cash, would you ask them "If everything is cash whats the reason to buy gold and silver" ?
Decentralized Digital currencies and Paper currencies have a lot in common, with the digital version adding extra level of integrity and transparency, if implemented correctly.
Why in heavens do you think thats the case? It hasnt been the case since 1973 when Nixon took US off the gold standard.
Whoa whoa, slow down tiger. You are jumping to far too many assumptions. Firstly, no one said that everything will be digital. He is simply pointing out that 97% of the current financial system is already digital, and we need this digital part to be transparent and accountable, and hence it will be replaced by Genius Act based digital system.
And secondly, nothing changes wrt gold and silver. They continue to be commodities, but instead of manipulated markets, they will be traded in transparent and accountable markets with no paper manipulations etc.
My fren, what are you smoking? Honestly, whoever is tellign you this, you have to stop listening to them and paying attention to reality.
Again, read what I wrote above. There is no "everything is crypto". There will still be cash. There will still be gold and silver and whatever else you want to sell. In addition there will be digital currency thats fully transparent, accountable and privacy based.