birdflip on Nostr: Gold-backed digital tokens are the ultimate shitcoin. -relies on trust -non portable ...

Gold-backed digital tokens are the ultimate shitcoin.

-relies on trust
-non portable across space / time
-non redeemable for physical gold
-increasing supply ♾️
-normies will fall for it

The good news: it may delay Bitcoin adoption in the short term so that plebs can keep stacking.