Quote from: r0ach on July 22, 2017, 04:24:49 AM

Quote from: Torque on July 22, 2017, 04:14:59 AM

Quote from: r0ach on July 22, 2017, 04:11:27 AM

This means you would have, say $100k in savings and transfer $10k at a time onto a centralized BTC debit card or something. With metals, you would do the exact same thing, move small amounts at a time onto a more centralized system if you need the convenience.

You could not do this and have this system exist without fees to transact. Not possible.

The point is you are not REQUIRED to expose yourself to any 3rd party middlemen using metals as a settlement layer like in bitcoin (the miners who demand rent). The energy input >0 required at all times for bitcoin to exist at all makes it a debt based system in practice. Metals are not a rent seeking vortex; they exist with no energy input; they're not a debt based system. You cannot use a debt based system as the base settlement layer. It's completely absurd to even suggest it.

So I suppose everyone should then become an expert in examining coins and bullion, to make sure they are not getting counterfeits or debased metals. In the old days, that was what the money changers used to do. They weren't middlemen nor charged usurious fees at all. Roll Eyes