Doq Holliday
@doqholliday
20 April, 09:15
I am not a crypto expert by any means... but...
From what I understand, if the US was to switch to a new digital currency that was gold & silver backed and interchangable with real money like gold and silver coins and gold backed dollars, which already exist...
They would need something like XRP so that anyone that has money tied up in bank accounts, could be swapped with the new money/wallet. They can do this all programatically using small amounts to start.
Am I on point or wayyy off? Open to feedback. :)
From what I understand, if the US was to switch to a new digital currency that was gold & silver backed and interchangable with real money like gold and silver coins and gold backed dollars, which already exist...
They would need something like XRP so that anyone that has money tied up in bank accounts, could be swapped with the new money/wallet. They can do this all programatically using small amounts to start.
Am I on point or wayyy off? Open to feedback. :)
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I am no expert either, but
I do have some concerns:
-- Digital crypto currency should be optional.
You still could be denied access by the banker or state controlling.
You can be tracked and profiled by the banker or state
Power or internet outages affect access.
-- Gold and Silver are so valuable compared to many goods.
It may not work to carry gold and silver coinage for payment
At this point, I just do not trust a central digital currency. It will be controlled by someone, That someone will have great power.
I'm feel some paper/coinage but not issued by the Fed and backed by gold and silver will still need to be an option. Something like "colonial script".
I do have some concerns:
-- Digital crypto currency should be optional.
You still could be denied access by the banker or state controlling.
You can be tracked and profiled by the banker or state
Power or internet outages affect access.
-- Gold and Silver are so valuable compared to many goods.
It may not work to carry gold and silver coinage for payment
At this point, I just do not trust a central digital currency. It will be controlled by someone, That someone will have great power.
I'm feel some paper/coinage but not issued by the Fed and backed by gold and silver will still need to be an option. Something like "colonial script".
11:45 AM - Apr 20, 2021
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