Replying to Avatar Roberto Rios (Peruvian Bull)

Gold cannot be money because it is infeasible for micro transactions in the modern digital economy

Are you going to walk around paying flakes of gold for your coffee or some takeout?

You won’t, which is why you’ll put it back in the hands of centralized custodian who will issue you paper

Which brings us all the way back to square one with the Fiat fractional banking standard
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₿☻Ḷↁ 6mo ago 💬 2

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Micael 6mo ago

Because a “blockchain” is a worthless stupid centralized database if it’s outside of Bitcoin

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proof of god 6mo ago

You could try to put gold on a blockchain aka a ledger. You’d get a kneecapped bitcoin - no true custody of the asset after a transaction unless you physically move the gold. Centralization of gold is a tendency, then you run into counterparty risk. You’re trying to use gold in a digital way when you can just use bitcoin - it was designed to solve a lot of the problems that gold presents.