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RE: Why Gold Works For The Rich But Not The Poor, Not A Currency Replacement

in HODL4 years ago

Not all Gold is created equal, and it takes someone to authenticate gold if you are to trade it. While the rich may work with reputable companies and have the ability to get premium purchase power for their gold, the poor can't.

So not all Gold are gold. I think we talked about this some days ago, that only Bitcoin can fit in and solve most inconveniences we face today especially the issue of decentralization. For a currency to be generally accepted it should be portable and also easy to access for me Gold doesn't thick this box. The bureaucracy will just be frustrating making trade difficult. I am with you on this bro.....let's move to something else

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Exactly gold is still vulnerable to things like corruption and pressures from authorities where Bitcoin is set by the market! As Africans also we know the value of having something that can’t be taken from us I feel like we’ve been robbed so much having something unconfiscatavle is finally our chance to build wealth

Exactly! Not just Africa but also other developing nations

100% man, the disparity is ridiculous and before we didn't have a way to opt-out but now we do