You don't send the physical, that's held in vaults like it used to be.

Then your not fixing the problem, just the symptom. Whoever holds the gold and controls the vault is the bank and the bank eventually pushes for fiat currency and the situation we're in.

Even if you're using a block chain to report the gold amounts, you have to trust whoever is providing the gold data. The entity you trust essentially becomes the bank.

You would need some way allowing anyone at any time to physically audit the gold while also keeping the gold secure from thieves. I don't think that is possible.

You start off with a based gold standard and banks will try to push to lend out more more money than they have so they can get more resources faster. Eventually you have an economy that is all run on debt like we have now and money that is not based on any value except that debt. The decay is much faster because of the 3rd party bank.

Crypto breaks this cycle because it takes out the 3rd party which is the bank. Nobody can access that crypto but you and whoever you explicitly give the seed phrase. As long as you have a healthy number of people validating the transactions (big part of decentralization) you don't have to worry about someone controlling your transactions.

If something goes bad with a crypto, which is always a possibility because everything decays over time, then someone else can take the open source code of the crypto and fix what causes the issue and release it out to the public for people to use if the want. The market will then decide which is best to exchange value. If there are no red tape regulations, this process can be made smoother.

If used like money everyday, eventually you are going to have a few people controlling all the crypto just like you have now with dollars which make the crypto not so decentralized anymore. The big difference is there is a much more streamlined process to improve on previous mistakes and the decay should be a lot slower. No more Triffins Dilemma for a world reserve currency either.

You don't send the physical, that's held in vaults like it used to be.

Then your not fixing the problem, just the symptom. Whoever holds the gold and controls the vault is the bank and the bank eventually pushes for fiat currency and the situation we're in.

Even if you're using a block chain to report the gold amounts, you have to trust whoever is providing the gold data. The entity you trust essentially becomes the bank.

You would need some way allowing anyone at any time to physically audit the gold while also keeping the gold secure from thieves.

You start off with a based gold standard and banks will try to push to lend out more more money than they have so they can get more resources faster. Eventually you have an economy that is all run on debt like we have now and money that is not based on any value except that debt. The decay is much faster because of the 3rd party bank.

Crypto breaks this cycle because it takes out the 3rd party which is the bank. Nobody can access that crypto but you and whoever you explicitly give the seed phrase. As long as you have a healthy number of people validating the transactions (big part of decentralization) you don't have to worry about someone controlling your transactions.

If something goes bad with a crypto, which is always a possibility because everything decays over time, then someone else can take the open source code of the crypto and fix what causes the issue and release it out to the public for people to use if the want. The market will then decide which is best to exchange value. If there are no red tape regulations, this process can be made smoother.

If used like money everyday, eventually you are going to have a few people controlling all the crypto just like you have now with dollars which make the crypto not so decentralized anymore. The big difference is there is a much more streamlined process to improve on previous mistakes and the decay should be a lot slower. No more Triffins Dilemma for a world reserve currency either.

You don't send the physical, that's held in vaults like it used to be.

Then your not fixing the problem, just the symptom. Whoever holds the gold in the vault is the bank and the bank eventually pushes for fiat currency and the situation we're in.

Even if you're using a block chain to report the gold amounts, you have to trust whoever is providing the gold data. The entity you trust essentially becomes the bank.

You would need some way allowing anyone at any time to physically audit the gold while also keeping the gold secure from thieves.

You start off with a based gold standard and banks will try to push to lend out more more money than they have so they can get more resources faster. Eventually you have an economy that is all run on debt like we have now and money that is not based on any value except that debt. The decay is much faster because of the 3rd party bank.

Crypto breaks this cycle because it takes out the 3rd party which is the bank. Nobody can access that crypto but you and whoever you explicitly give the seed phrase. As long as you have a healthy number of people validating the transactions (big part of decentralization) you don't have to worry about someone controlling your transactions.

If something goes bad with a crypto, which is always a possibility because everything decays over time, then someone else can take the open source code of the crypto and fix what causes the issue and release it out to the public for people to use if the want. The market will then decide which is best to exchange value. If there are no red tape regulations, this process can be made smoother.

If used like money everyday, eventually you are going to have a few people controlling all the crypto just like you have now with dollars which make the crypto not so decentralized anymore. The big difference is there is a much more streamlined process to improve on previous mistakes and the decay should be a lot slower. No more Triffins Dilemma for a world reserve currency either.

You don't send the physical, that's held in vaults like it used to be.

Then your not fixing the problem, just the symptom. Whoever holds the gold in the vault is the bank and the bank eventually pushes for fiat currency and the situation we're in.

Even if you're using a block chain to report the gold amounts, you have to trust whoever is providing the gold data. The entity you trust essentially becomes the bank.

You would need some way allowing anyone at any time to physically audit the gold while also keeping the gold secure from thieves.

You start off with a based gold standard and banks will try to push to lend out more more money than they have so they can get more resources faster. Eventually you have an economy that is all run on debt like we have now and money that is not based on any value except that debt. The decay is much faster because of the 3rd party bank.

Crypto breaks this cycle because it takes out the 3rd party which is the bank. Nobody can access that crypto but you and whoever you explicitly give the seed phrase. As long as you have a healthy number of people validating the transactions (big part of decentralization) you don't have to worry about someone controlling your transactions.

If something goes bad with a crypto, which is always a possibility because everything decays over time, then someone else can take the open source code of the crypto and fix what causes the issue and release it out to the public for people to use if the want. The market will then decide which is best to exchange value. If there are no red tape regulations, this process can be made smoother.

You don't send the physical, that's held in vaults like it used to be.

Then your not fixing the problem, just the symptom. Whoever holds the gold in the vault is the bank and the bank eventually pushes for fiat currency and the situation we're in.

Even if you're using a block chain to report the gold amounts, you have to trust whoever is providing the gold data. The entity you trust essentially becomes the bank.

You would need some way allowing anyone at any time to physically audit the gold while also keeping the gold secure from thieves.

You start off with a based gold standard and banks will try to push to lend out more more money than they have so they can get more resources faster. Eventually you have an economy that is all run on debt like we have now and money that is not based on any value except that debt.

Crypto breaks this cycle because it takes out the 3rd party which is the bank. Nobody can access that crypto but you and whoever you explicitly give the seed phrase. As long as you have a healthy number of people validating the transactions (big part of decentralization) you don't have to worry about someone controlling your transactions.

If something goes bad with a crypto, which is always a possibility because everything decays over time, then someone else can take the open source code of the crypto and fix what causes the issue and release it out to the public for people to use if the want. The market will then decide which is best to exchange value. If there are no red tape regulations, this process can be made smoother.

You don't send the physical, that's held in vaults like it used to be.

Then your not fixing the problem, just the symptom. Whoever holds the gold in the vault is the bank and the bank eventually pushes for fiat currency and the situation we're in.

You start off with a based gold standard and banks will try to push to lend out more more money than they have so they can get more resources faster. Eventually you have an economy that is all run on debt like we have now and money that is not based on any value except that debt.

Crypto breaks this cycle because it takes out the 3rd party which is the bank. Nobody can access that crypto but you and whoever you explicitly give the seed phrase. As long as you have a healthy number of people validating the transactions (big part of decentralization) you don't have to worry about someone controlling your transactions.

If something goes bad with a crypto, which is always a possibility because everything decays over time, then someone else can take the open source code of the crypto and fix what causes the issue and release it out to the public for people to use if the want. The market will then decide which is best to exchange value. If there are no red tape regulations, this process can be made smoother.