I dont think currency should be democratic, it should be impersonal and outside the whims of any group of people. Gold is like that. Cryptocuyrrencies may reach that stage after they solve all their bugs and their source code becomes fossilized.
People who advocate for gold... wait for it ... have gold ! It's the same as bitcoin.
The best currency is worthless and fleeting and represent work effort today and must be quickly converted back to work. Invest in schools to pay for a productive future that can afford your retirement, instead of clutching your precious metal.
Nothing which responds to interactions with humans operates outside the whims of any group of people.
Agreed, this is something to fix. The current crypto bubble is driven by clueless hype
> Nothing which responds to interactions with humans operates outside the whims of any group of people.
Science does and so do mathematics.
If gold (or some other precious metal) is such a fantastic currency for a modern economy to use, why are no modern economies pegging their currencies to gold? Why didn't Nixon keep the dollar convertible to gold?
Gold is not like that at all. In the days of gold backed currencies, owners of gold mines had tremendous power to manipulate the market at their own whims.