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Replying to Avatar Guy Swann

Digital points have to be "backed" by gold so that they acquire the scarcity and assurances that physical gold gives.

Bitcoin isn't backed by anything, because it already has far more verifiabile scarcity and assurances than anything physical that you could "back" it with.

#Bitcoin simply already is good money.

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John 9mo ago

That's the main issue with tokenizing anything. It relies on an enforcement layer between the underlying physical asset and its representation

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