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.

Reply to this note

Please Login to reply.

Discussion

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

Digital gold has to be protected by digital leprechauns

BTCleprechaun.com

https://video.nostr.build/3e3ecff899a028c48d974a0316d312794d014bfed5a37c186ab2e53183e38534.mp4