So as far as I can tell, #Bitcoin is great for a digitally-enabled world. What about cases where cash is better, though? Would it be possible to make "Bitcash" that is backed by or translates into Bitcoin? Or would it be better to just be on the gold standard when we're talking about physical money?
#AskNostr
Silver
Why silver, specifically? Should that interact with the digital world of Bitcoin, or should we have two parallel systems of currency to fulfill different needs?
I think there are a lot of easily recognizable silver coins that could go back into circulation. The denominations are convenient for small purchases and don't require an internet connection.
Check this out. 🤙
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What if we had gold or silver coins etched with QR codes?
Gold, silver or even shells can be a good medium of local exchange in the cases where bitcoin becomes inconvenient.
Alternatively, a bitcoin backed note could suffice as long as the issuer is trustworthy. This is possible in local contexts, but not at scale in the global context.
I like this, as it gets at the fundamental nature of what money really is. It's a medium of exchange for goods and services, so anything that suffices to make exchange possible will do. There's no real reason we need to use the same currency in different domains, as long as everyone involved agrees on the value being exchanged.
