Unfortunately the issuer of your country’s currency did though, so you aren’t guaranteed any specie for your paper
Discussion
Why should I expect such a guarantee?
That hasn't been on offer my whole life, at least not for ordinary scrip
You shouldn’t, but that’s the technical definition of the “gold standard”
GLD hasn't defaulted yet
(and of course there are even more attractive vehicles)
I can always convert to scrip (or even bitcoin) as needed
Yeah for sure, it’s still money, it just has inefficiencies that make it not really work for my personal use case. I’d definitely accept it for payment though if someone offered.