And, how do you determine exactly that some of the reserves are not inflated with Tungsten or some similar other kinds of smoke and mirrors?
I agree, exactly. No country is ever going to let a rep from any other country come and personally inspect their Gold vault holdings for complete Proof of Reserve. Never gonna happen. Especially when they are holding some other countries' gold as well.
With Bitcoin, it's easy and transparent. If you and only you control the private key(s), then you control the bitcoin. So you either have control, or you don't.
And transferring control of Bitcoin is equally trivial. None of this "it'll take another 25 years to repudiate all the Gold back" horseshit.
https://www.rt.com/business/336405-germany-gold-reserves-return/