Any alternative currency to fiat that requires to be exchanged for fiat or be processed through a custodian in order to be spent isn’t ready to be used in time of crisis. In your opinion, what are the alternatives to fiat that best pass this test? #Bitcoin #Goldback #Crypto
Discussion
Unsurprisingly I have a bias for Goldbacks, but it is rooted in some experiences in gifting and tipping.
A quarter gram or half gram of gold (see monarchpreciousmetals.com) is very unimpressive size-wise. I think it is hard for people to grasp the very tiny flake of metal has any value.
On the other hand, Goldbacks look like, and can be handled like, the cash they've used their whole life. I've noticed it seems to "click" with them and they seem pretty pumped to have spendable gold. Plus, they are works of art and nice to look at.
I agree on #Goldback. People like them even if they don’t know anything about gold. They are a great choice for tipping. For buying it’s still a hit or a miss depending on where you live. You can hand a goldback to anybody even if they’ve never seen one but you can’t give #crypto unless the person already has a wallet set up and ready to use.