/biz/ - Business & Finance

>>29555296
Negroid detected.

Except with precious metals in general there aren't good alternatives, that would work any better for easy transactions.
With crypto there are solutions that are infinitely better already.

>>29555296
>it would be inefficient to distribute actual gold coins as currency
guess why we don't use gold coins

>>29555476
BTC is the most secure and truly decentralized blockchain.

>>29555296
Actually, it's not like that.
At all.

>>29555296
It would be very easy, you can have a gubbermint wallet that everyone can see, if they try and exit scam riots and nooses ensue. Use IOU's representing sat values etc

>>29555511
>truly decentralized blockchain
you must be trolling

>>29555626
I am not. You would understand if you weren't a nigger.

COPE YOU TOP BUYIN PIECE OF SHIT
DEFI IS THE STANDARD LEAD BY dHEDGE

>>29555296
BTC is energy-inefficient.

>>29555452
>>29555669

>>29555669
https://twitter.com/murphsicles/status/1364508896468041730

>>29555296
Wrong.
Gold is the final reserve currency because it’s the currency of last resort.
If all else fails millions, even billions of people can make transactions using gold.
If everyone on the planet tried to make just one transaction with BTC it would take over 34 years. That means your funds will be locked up and unusable (worthless) for over three decades. No government, central bank or monarch would ever take that risk with their sovereign wealth.
Bitcoin is a massive liquidity trap that cannot survive without another currency, hence it can never be the reserve currency.

Bitcoin is also not money, it is a liability. The liability placed upon you as a bitcoin holder is that of funding the miners.
Without you, as a bitcoin holder, funding the miners, bitcoin will become unusable, easily attacked and worthless.
Currently you fund the miners through inflation (900btc per day) and through tx fees (100btc) per day.
The inflation is paid for by all holders, tx by those who transact.
As time goes on the burden will shift entirely unto the transactors who will have to pay hundreds of dollars per tx (only 7tps) to fund and protect bitcoin.

It’s as though you had to constantly spend money on polishing your gold or else it would rust. If that were the case gold would be a liability, not money.

>>29557708
>If all else fails millions, even billions of people can make transactions using gold
are they trading actual physical gold with each other by hand in every single transaction? no? then why do you assume people would be making actual BTC transactions for every trade

>>29558230
They CAN use physical gold to trade from hand to hand, that is the minimum requirement for a reserve currency.

Say you issued BTC IOUs and then the IOUs were mismanaged, where do you run? Into BTC? 7 billion people rushing into the most illiquid liability on the planet?

When gold IOUs were mismanaged and there was a rush into gold those wise enough to not place more than they need for day-to-day expenses into IOUs, keeping their savings in physical form, didn’t lose much and could still survive and make investments during the chaos.
If you keep your savings in BTC you won’t be able to do anything, your assets will be frozen for decades as miners process transactions.