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In short, not scalable. And I’m a 20yr gold “hodler”.

Gigi is right.

Precious metals already scaled globally as coins. They also scaled as gold certificates aka US dollars. This was prior to being taken off the gold standard. It was so powerful it became the petro dollar and used globally for trade.

Crypto wallets are easily blacklisted from exchanges. Just wait until they are blacklisted by brick and mortar merchants who want to remain “legal.” Everyone is obsessed with building the prison and linking the chains used to enslave future generations in a techno feudal future.

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Discussion

Totanka 4mo ago

Youre just admitting that gold leads to fiat. No thanks

Chris 4mo ago 💬 1

Who will mint all the coins for 8bn people globally to use? Who will collect and transport them locally regionally and globally to facilitate trade? Where will you secure these mountains of coins in every household and business? See any capturable, centralised points of attack and failure there? (Not to mention the snails pace of transaction velocity)

If not, keep looking.

I was right where you were a few years ago….wanting the world to move backwards instead of forwards. It’s a fear reaction. And nature doesn’t do “backwards”.

We will evolve or die 🧬 🦋

(There are many layers to read into that last statement 😉)

Be well 🙏🏻

null 4mo ago

You don’t mint globally. You have reputable mints with understood purities of metals in the coins. The most successful mints are state mints (US coins, Canadian coins, British Coins) because the reputation of the people and their ability to trade is tied to the purity of their coins. Private mints don’t get the same traction but can still compete largely for reserve status rather than daily trade.

This works best when you have high trust societies with enforced borders. (This has been a challenge over the past twenty years globally. Some may say this is being done by design.) Within those borders, counterfeiting is punished.

You’re asking questions like “how will this work” when commerce is and was conducted in this fashion for long periods of time.

Key management for crypto is ridiculous. The attack surface is global. Theft can’t even be prosecuted due to the coin mixers everyone here praises. The result is everyone is just a “zapper” with off chain “trust me bro” transactions facilitated by Strike.

Primal and NOSTR will be remembered, in hindsight, as marketing arms for privatized central digital currencies claiming to be facilitated with Bitcoin. We are joyously enslaving ourselves to a global tyranny.