“Gold can’t achieve transaction finality without the help of a government or central party.”
nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle calmly explaining the shortcomings of #Gold in relation to #Bitcoin as Peter Schiff listens...
Dang, this is good. Jack is so precise in his arguments. His talk 'Bitcoin is Time' was super when I saw it in Madeira
Chain of time not blockchain stuck.
Jack burned Schiff’s face off
This was the only time I ever saw Peter concede.
I think he's missing these key components, gold doesn't have an unalterable public ledger , gold tends to get stored centrally because of security problems and gold is not readily assayable.
Eg. Ft Knox has never been publicly audited and will never be publicly audited. There may not even be any gold in there, or it may not belong to who you think it does , if it is there.
If you don't know if the gold exists or where it is and it is insecure to carry and you cannot tell easily if its real gold , you cannot back money with gold. There's the problem.
