Those are fiat currencies which are forced on people by the state. Because gold failed. Gold was difficult to transport and verify so they used dollars redeemable in gold. Then they took the gold and forced people to use dollars. If gold was easy to transport, fiat wouldn’t have worked. People wouldn’t have put their gold in banks. And everyone would be using gold as payment.

Replies (1)

Streak-plates made gold easy to verify. ICP made it easier still. The weight is no big deal in the quantities actually required for everyday transactions, the amounts are actually quite small. Fiat is proof-of-violence, gold is proof-of-work. When threat-of-violence (taxes) is more than a small share of the economy, Fiat wins over everything. As we see today.