Replying to Avatar a source familiar with the matter

I can transfer claims on gold digitally, just as we transfer claims on oil digitally
Avatar
Bitopia 2y ago

You can, but you will need to trust multiple third parties for that to work (someone issuing the claim, someone to store the physical gold with). This brings risks, which are not there with Bitcoin which is the bearer asset itself.

Reply to this note

Please Login to reply.

Discussion

Avatar
a source familiar with the matter 2y ago

But the other side of the trade has those same risks, how come the exact same risks can be overcome for oil but not metal disks?

Avatar
Bitopia 2y ago

Oil trade networks get disrupted all the time. Same applies to for example grain.

Russian oil and Ukrainian grain are the latest examples of this.

Avatar
a source familiar with the matter 2y ago

And yet the global oil and grain trade continues