Thread - Nostr Hypermedia

MoneRogue MoneRogue@coinos.io 1 month ago

Ending the Federal Reserve is only the bare minimum. The issue of inflation will still exist but will not be as intense if the Fed is abolished because fiat will still be used. The State needs to be COMPLETELY removed from money production! This means a silver or gold standard would not be enough because those are just price controls set by an arbitrarily-set unit known as the "dollar." Reinstatement of sound money must take place with prices being set by universally agreed upon units that cannot be changed by government decree i.e grams for silver and gold, sats for Bitcoin, picos for Monero, etc. An added bonus of the return to the sound money is it will be a massive blow to the war machine!

#Agorism #Agorist #AnCap #Libertarian #Antistate #Antimonopoly #Inflation #EndTheFed #AustrianEconomics #SoundMoney #Money #MoneyProduction #MediumOfExchange #MoE #CounterEconomics #Gold #Silver #Bitcoin #Monero #BTC #XMR

Replies (2)

npub1kasm...ttwe 1 month ago

The way I see it is a Consortium of gold vault agreeing on a way to certificate and ensure that vault X contains Y grams of gold. After this certification process the vault owners can create Y tokens each one representing a gram of gold. These tokens will be minted on a Monero like Blockchain. Moving a token from on wallet to another will be completely private. A fraction of a token can also be moved from wallet to wallet, giving high granularity. Weather underlying these transactions will be a Monero token used as "gas", is open to debate. It makes things complicated but it can give more flexibility. This gives you what you want. Grams of gold will be used for transactions and not Dollars.

1 replies ↓

MoneRogue MoneRogue@coinos.io 1 month ago

I'm not sure what exactly the point of this would be if Goldbacks already exist to serve a similar purpose, even if they don't use units in grams. Besides, I'm sure there's plenty of people who would still prefer offline transactions in a post-fiat world. Regardless, I do think a concept like this would be the best way to digitize precious metals.