Gold's Failure as Money in the Digital Age

Gold failed as the most trusted money because it was (and still is) so easily compromised in the digital economy.

People have been trying to audit the fed and its gold supply for a long time without success.

The modern global economy requires instant, digital, bearer instruments as payment.

Gold does not work as well in a digital economy. Gold-backed digital currencies are a non-starter. Physical, asset-backed digital currencies are a liability because the assets can be seized by any bigger army.

Gold is difficult and expensive to store, protect, and transfer across space and time. Micropayments are horribly inefficient with gold.

E-gold (a pre-bitcoin, gold-backed digital currency) had two, fatal flaws:

1 - A centralized database and

2 - Gold in a warehouse somewhere backing the currency

Both of those were centralized points of failure and the reason for e-gold's takedown.

After e-gold's failure, the Cypherpunks went back to the drawing board and created bitcoin to fix these flaws.

I believe Bitcoin is the greatest modern invention since the printing press and the internet.

The world was a dark place prior to bitcoin as the centralized few had a stranglehold on humanity. Their power is now leaving them as humanity begins the process of reclaiming sovereignty by dumping fiat and accumulating bitcoin.

The creation of bitcoin is a defining moment in human history and one can only imagine the possibilities for human flourishing in the centuries to come.

Every single day I am in awe and full of gratitude for this blessing that we have been given

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