Post
Topic
Board Economics
Re: Gold is worse than fiat
by
chmod755
on 25/04/2013, 16:56:46 UTC
Well you will need to first buy the gold at a loss. You will probably have to drive to pick it up and you need to test it a bit to insure its good.
For this amount you will have to go to maybe two different guys found online to pick it up at least.
I think its safe to say buying and selling the gold will cost you at least 3% each time in transportation, offer-research, time used, risk of fraud and so on.

Yes, there are fees involved when you're buying gold and the gold fixing makes it seem unfair nowadays, but you're not describing problems related to the monetary use of gold here.  What you're describing is a problem about how governments restrict other types of money: In most countries you have to pay employees in fiat money... (only a few companies are paying in Bitcoin or partly in Bitcoin so far)