drgo on Nostr: Gold failed as money because it couldn’t be transferred as fast as deals could be ...

Gold failed as money because it couldn’t be transferred as fast as deals could be made. Bitcoin fixes this.

BUT…

I predict gold will be used as a basis for a new major currency precisely because it is inherently centralizing and trust requiring. While this is terrible for the truster, it’s too tempting to pass up for the trustee.