If gold could teleport we might never have abandoned the gold standard.
Discussion
Transport wasn’t the only issue. The oracle problem would remain. Who to trust?
If you could teleport it, you could arbitrage a local price with a foreign one. That’s essentially why the Bitcoin price is consistent globally
I haven't abandoned it
Unfortunately the issuer of your country’s currency did though, so you aren’t guaranteed any specie for your paper
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.
Also nobody knows the total supply
That’s true but that’s got nothing to do with why the world abandoned it
China resisted gold over silver the longest in the world (seeing it as a western imposition, ie, a version of total supply doubt) and they suffered heavily in the first half of the 20th century because of it
that not reason - u can teleport EFT bitcoin standard will gone
ETFs cannot be sent to the other side of the world, they are permissioned tokens meant to keep capital in the market
