Hey Hivers, today I will be mentioning some points on top of my head on why I think Gold is the OG de-centralized money.
Gold
Gold which is natural precious metal which is then refined and used by us humans fits the definition of decentralization perfectly because of these reasons.
1. Cannot be printed.
Gold, unlike fiat cannot be printed by a centralized authority thus total supply regulation is somewhat decentralized. It prevents fiat based disasters like hyperinflation and debt spending of governments which causes them to fail.
2. Has independent store of value.
Gold has an independent store of value across all humans which means no war , no discontinuation of support from any superpower can result is gold not used as money.
For example :- During ongoing Russian-Ukrainian war , most of the world decided to pose sanctions on Russia devaluing its currency more than double but Mr. Putin just backed it by gold and now Russian rubles are trading more positive than the pre-war levels. This value to his currency was derived from gold which means governments purchasing from him were willing to buy expensive rubles and then it's resources just because they knew if everything fails I am promised a gold portion for every ruble since it is backed by it.
Mr. Putin played the ultimate UNO card. While I don't like as a person. I love how smoothly he was able to deal with the sanctions.
3. Gold was made by God
OK , this one is for the religious people out there. If any Atheist is reading this then please spare me. I am just stating my religious reasons for my believe in gold.
First of let me establish that fiat system in its current form is really new . Federal Reserve was established in 1913 .
For most of our history we've been using Gold and Silver as money which always ALWAYS resulted in a nation to prosper. As a matter of fact , the only reason nations using gold as money collapsed was over-spending in war . Ah. Classic. But fiat allows that overspending on steroids via deficit spending and what not.
I also believe that we by nature are inclined to use gold and silver as money.
For example :
If I decide to pay a person $100 for groceries or $100 worth of gold , he is naturally inclined to take that gold as a means of purchase given that he can use it further as a means of purchase as well.
Basically, given opportunity and true freedom of choice we are naturally inclined to trade in gold and silver versus fiat. Fiat is unnatural and is forced upon us. You aren't happy receiving your paycheck when inflation is really high because you are continuously anxious on how to beat inflation while protecting your capital as well.
Some companies have even started paying in gold.
Read this.
Company to pay salary in gold instead of cash to help employees battle financial crisis
This innate attraction is due to Allah (God) making it for us.
Quran the holy books of Muslims always refers wealth in gold or silver terms. No other currency or money is mentioned let alone fiat.
To not extend this post I will give one example from the Holy Quran in Chapter 3 Verse 14
(3:14) Men are naturally tempted by the lure of women, children, treasures of gold and silver, horses of mark, cattle and plantations. These are the enjoyments in the life of this world; but with Allah lies a goodly abode to return to.
Here , Allah says Men naturally have this ability to pursue women, make a family (children) , horde gold and silver as treasures .
Although this verse , warns the believers to not be blinded by this worldly temptations its is proof that Mankind will be tempeted to hold their earnings in gold or silver.
That is it for today
Upvote this post to support my account
Peace out.
