this post was submitted on 05 Oct 2024
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Oh, yes, let me go and buy me weekly groceries with a lump of gold like I'm a fucking leprechaun, because clearly gold and silver are still used as currency all around the world. /s
good luck.
It's an interesting idea, but it'll be tricky to pull off because governments and corporations have convinced you and everybody else that pieces of paper and promissory digital notes are more valuable than material resources.
Let me clarify since apparently you're too fucking dense (or realistically, willfully obtuse for the purpose of trolling) to get the point:
There's not a single store, anywhere in the world, that will allow me to directly exchange gold for goods. At best, they will convert that gold into dollars using a third party exchange, and then conduct the transaction using dollars. If you're comparing crypto to gold, silver, or the commodities market, then that means cryptocurrency has failed at its stated goal of providing a digital currency.
"There's not a single store, anywhere in the world, that will allow me to directly exchange gold for goods."
although you are incorrect since pawn shops obviously accept gold as currency, It's cool that you're agreeing with me that most businesses won't take it because governments and companies have convinced you the digital promissory notes and paper are more valuable than material resources.
"If you're comparing crypto to gold, silver, or the commodities..."
I'm comparing cryptocurrency to other currencies.
It's very funny that currency confuses you the way it does, but cryptocurrency has very much succeeded at providing a digital currency.
they are literally digital currencies that you can use to exchange for goods.
The success, security and convenience of digital currency is the reason 130 countries are developing discrete central banking and national currencies.
it sounds like you are confusing cryptocurrency with some kind of archaic magic.
cryptocurrency is digital currency (a ledger of account balances on the computer) secured with cryptography (password protected).
digital currency started as bank accounts, moved on to debit cards, then credit cards, then direct payment systems like UPI in India or WeChat in China, and the newest iteration of digital currency is cryptocurrency.
cryptographically secure digital currency.
type your thoughts and assumptions into a search bar first.
you can read the information, critically analyze and adjust your assumptions, and then write down informed thoughts instead of regurgitating misinformation and uninformed opinion.