Bitcoin Forum

If everyone used GOLD instead of paper money like the sheep we are and just ignore the banks and the gov they will be forced to use GOLD also the power is in our own hands and you don't have to carry a lot of it....

1/10 coin will buy the equivalent of $106 worth of goods in fact... the goods weigh more than the gold itself you cant expect to have everything in your own world some sacrifices need to be made to stabelize the economomy

Such a world existed not long ago.  But you know what the elites did?  They instituted something called the gold standard to suppress the price of gold (by freely selling gold for paper currency at a fixed price.)  So if you held gold, it never appreciated and you earned no interest.  At the same time, you lived with the same inflation like everyone else, due to the state's issuance of paper and debt.

This was true as long as the state had enough gold to maintain stability.

The moral of the story is that, unless voters understand the manipulation of money, things won't really improve.

I think it's not happen, although gold is used to hedge against inflation.
Because the supply of gold is limited and paper money still can printing if the woods still alive.

You need more precise value by cutting the gold into appropiate size which may be difficult for us to buy and sell.

Let say for example:
if you want to buy a TV cost $ 1000 , you need 1 bar of gold. ( still easy to trade)
But when you want start to buy vegetable that cost less than $ 10 , it may be difficult to buy them with gold

This topic is a duplicate. (https://bitcointalk.org/index.php?topic=1338751.0)
I share the same views as saturn643 on the duplicate: there's a reason why people agreed to switch from gold to paper money, and that reason is that gold is unsafe to transport, as well as unsafe to accept. Banknotes were originally created to relieve people from the threat of being stolen. That's why bitcoin will have a hard time reaching average Joes: they've already proven that they didn't want the hassle, even if it meant trusting someone who shouldn't be trusted, such as someone who will print more paper money than they have gold. Regular people don't really mind. You can call them sheep if you want.
Also, history has proven to repeat itself, and every time fiat currencies failed, the people went back to gold. This time, if it happens again, bitcoin might just get a good share of them.
Well that's why in any system based on gold, the role of change was assumed by silver, copper and other less valuable metals. I don't see the problem here.

You would have to be really retarded and really rich to use gold instead of paper. No one is that rich.

The original story I read was of a goldsmith who ran a credit book for those deposited gold with him.  It allowed people to spend without carrying the gold around, they settled their debts for smaller bills with notes of credit from the goldsmith and the goldsmith simply deducted this from your balance held.  

He made a profit by being the administrator of the whole deal and holding fees but it was still more sound then handling it personally.  The modern day problem with our system is our central registrar of our wealth does not hold deposits 1:1  He keeps on writing out more and more credit notes to whoever asks, most notably the big banks are bailed out to the detriment of others who dont have this inside ease of access and credit.      

People then dismiss gold as old fashioned but its idea is perfectly upto date with any economy.   You have no requirement to carry metal,  (even fractional debt would just require separate institutions) that original system was more then a few hundreds of years ago if anything it'd be easier now and they only degraded it for political bias mostly to benefit the most powerful.  
How does a government balance its books, it doesnt it degrades the ledgers accuracy that would say they are insolvent and so it affects all of the economy to serve those in power.    Or this my impression at least

And here SILVER will help :)

1g of silver is ~1.5$ - super easy to buy with it small and inexpensive goods

Will you buy a candy bar with gold? That's the problem with gold. Because the value of gold is really high which will makes it hard to buy small thing. While the value of silver is much lower which make it easier to buy everything but this can be a nightmare when you buy a car or a house. Everything has its own weakness ;D just use both of them in trading, buying and selling stuff. Still, it's hard to calculate everything ;D

I think this was the old practice in trading. Gold bars, silver amd other precious metals and minerals we're used but as time goes by we cant always walk around with gold and silver in our pockets, so i think for convinience purposes coins and paper money was invented.

Thats really not the case, you do not literally have to pass gold over a counter to have a monetary system based on gold.   Right now today you can pay with credit card and that company settles your bill with your gold bar.  The only inconvenience is paying for the gold to be held at the credit card company, otherwise go ahead and buy chocolate with your gold


About 2 decades after the Federal Reserve started, they banned gold.  It wasnt to save the lining of your pocket from wear, heavy coins were not the reason.   It is based around central control of money for government concerns.   Capitalism is money and capital with people, our system now is Federal and power based.  Money is issued by government, capital via law not industry or production.
   The reasons for no gold are not physical, they are political

So true. And how could you ever do things like print or write on gold.

You can get gold down to 0.1 grain in size (not gram) currently about $0.22

While we are at it, let's get rid of international transportation as well. Oh, maybe dump the internet as well. Some sacrifices need to be made.

No more exotic diseases spreading around the globe. Only regional foods that are in season.

You are delusional if you think we will be paying with gold in the supermarket..

Very much true,kind  of solution for modern world can be limit or  ban money  creation by comercial banks
Now central banks are serving private banks and all money are in his  hands

I'm more of a barter man. As soon as money's created in any form anywhere then some guy somewhere will look to corrupt it.

I agree. And there are also things which cost even less than one dollar. That's why the payment system we have now were created. Why go back to gold? Isn't it much better to move forward, to Bitoicn?

i hope it would not be happen and i think gold only good for investment especially for long term investment and paper money is still the best than gold

In the start when money invented it was in the gold face, mean that it was coins of gold. So, this method is already experienced, and this method is no more available now so its mean that this method got no success or there was problems with that method. So leave to think about that.

It was because of that problem people of past ages left using gold as money/fiat, as it was not possible to exit an amount of gold of worth $1 or less. It became difficult for that people to buy things like vegetable, and other small things for home and other daily use.

Simple answer is something like Aurum gold notes.

They are polymer notes that contain a precise amount of gold (can easily be recovered from the note if required)


http://valaurum.com/wp-content/uploads/2014/08/mineraurum2a-e1407516897570.jpg

http://valaurum.com/

Yeah carrying of gold of worth millions was very hard. If you have to buy a house and have to pay with gold then you have carry about 4 to 5 kilogram gold with yourself and if it is with credit card then a card of a few gram. So it is safe to use fiat as paper instead of gold.

Using gold standard is even more problematic than cryptocurrency by far. To be able to use gold in daily life you had to have specially made gold coins or something like that.
I would rather believe in bitcoin taking over FIAT than in gold returns as a payment method.

Except the Russia, China etc are stock piling gold not BTC.

A gold back yuan or ruble would be the end of the petrodollar.

If they did that's be great and the gold standard would be back and they'd have to back their financial assets with Gold. But then it is incredibly difficult to convince the world citizens to stop using paper money cause it's controlled by each country's Federal reserves. But like gold, if people have considered that there's value in paper money, then similar would be the case for Bitcoin.

You can still use paper money but its backed by gold not promises.

They have tried, but somehow they never seem to be able to keep banks safe for the long term.

The real reason the state implicitly guarantee bank debts and then tries to regulate banks to keep them safe is that the state wants banks to help support demand for the paper money and debt issued by the state.  If your paper money earned interest at the bank, you didn't want to hold gold.  In the old days there were often explicit deals where the government allowed a bank to get into a new kind of risky loans, in exchange for the bank buying more government debt.

In effect, this is a system where politicians and bankers are in alliance to take wealth from the rest of society.  The tool with which they do this is the state propping up the values of the money and debt issued by the state and banks.  Politicians and bankers profited personally when the system was stable.  When these over-valued assets finally crash, the whole economy pays the price.

The central bank is the institution that guarantees this alliance stays alive.

Using gold for any payment or buying anything is just a barter system, which the old system of old ages. Now it is advanced developed era, forget about that things. Now it is the era of digital world. Talk about the digital systems of payment and money etc.

their is asteroids in gravity wells between the moon which are full of hundreds

of thousands of tonnes of gold and the elites have easy acess to this

plus they just used special ops to steal mine anyway i was way onto

stacking back in 2010 just when Bitcoin was still new, they would

have got me on cctv hitting coin stores and from my ebay buys

only real stackers are those dudes on big ranches in America that have

an arsenal of weaponry and their own cctv

Using cash is more portable and i don't like using gold instead of fiat, it is more complicated.

They will just make gold ILLEGAL again and steal it all.  The pigs aka private gov army aka police do WHATEVER they are told.

Maybe but it wasnt very successful first time around in the US, are you going to stroll to your local bank to hand over all your gold or just keep your mouth shut or say you sold it years ago if they come knocking.

Im not in the US so not such a problem here :)

why they should? they can track every gold "transaction"; gold is more centralized than fiat itself, or than cash, so if anything it would be better for them if you pay in gold, but more tedious for you, they know this...

In the UK no records are kept at any bullion dealer unless you buy more than £5000 in one transaction or over £10,000 at one dealer in a financial year.

Spread your buying across multiple dealers and there will be no records of your gold purchased

I would say gold is not that centralised, most people in the world own a little gold jewellery at least.

Gold was always treated as commodity but was never treated as cash. That is why when people import gold from foreign countries, they have to pay a huge amount as custom duty. Bitcoin will be completely different and it can be used as cash as well as commodity.

This is spot on.

I dont see why do this now for bitcoin, so that traditional invesment forms can become like these notes for bitcoin. It`d help almost everyone out without knowing what bitcoin is to explain the whole thing etc.

That's right as if we check the price today, even 1 gm gold = $45 or more and hence for buying small items, we would need ot trade 0.0001 and 0.00001 gms of gold just like we have bitcoins which are as low as 0.00005. It's as good as trading in bitcoins like we trade in gold and since we don't have physical gold coins as low as 0.00005 gm, it won't be possible to use them in daily life.

that is good to know, but it means thta you're limited, about the amount you can hold, if you don't want to be tracked

not so diffferent than fiat were below 1k you're not tracked for money laundering, for example...

Yes, gold has value, but it's impractical to use it like cash. That is why paper money got invented.

Although now we see the flaws of paper money, so that is why bitcoin was invented.

And bitcoin will stay ;)

Same case goes with bitcoins and hence Government hates it as they cannot track the amount of bitcoins every person has. If users had to be used as fiat, I doubt how users would measure the gms and buy their day-today things. It would be damn tough unless we had coins having a certain value.