Many people say that gold is god's money. This may be true, if you consider that the Elohim (El-oh-him; a group of El) are an alien race that came to Earth to get a pile of gold to save their dying planet. The stories of these El is very similar to stories about Roman gods on Mt. Olympus.
They liked gold, and were hurt by silver.
And, god's chosen people really like gold, and continue to accumulate it, calling it the real money. Probably hoping that the Elohim will come back, and let them be the chosen ones once more. (the story is that the El found a better chosen people, and left with them)
Sooooo, gold being god's money, may refer to it being Lucifer's money. (Lucifer being the head "lawyer" for the El) And so, the Lucifarians all want the gold.
This is a better story than "gold has been money for thousands of years" When, if you read the old books, you find that it wasn't. (there seems to have been letters of mark long ago) And, in everywhere except Europe, gold was not money. Specific Sea Shells in North America. Jade in South America. Jade and silver in East Asia. And in many places, markers for grain was the currency.
Stories of history aside, will gold ever be money again?
Gold is actually very poor money
There are lists of what makes a good money
- portable
- rare / store of value
- divisible
- recognizable
- …
These lists only encompass thoughts about money before bitcoin was a thing.
Now, those lists are inadequate, and need to include things like
- you can pay someone on the other side of the world
- There is a record of you paying them.
- defined scarcity
- and a bunch of other attributes that really do not have names yet…
Gold is not any of these. And they will be more important than the entire old list.
And worse, gold is not scarce.
And even worse-er there are piles of gold hidden in vaults all over the world, that could be dumped on the market at any time. Not rare at all.
What about putting gold on the blockchain?
Many people talk about this. And someone is bound to do it.
The problem is we don't really have a way of synching, 1:1 physical gold with the blockchain.
The only time the gold may be known to exist is when it is verified while being tokenized. After that, we do not know, and have no real way of knowing. The pile of gold on the monitoring camera, could be AI.
The vault that it's stored in could be robbed, by bad guys or the govern-cement.
And the worst thing, is that, if this all works correctly, the gold is never needed. Everyone is busy sending the tokens around. And the gold, just sits in the vault. The gold is actually superfluous.
However, having the gold as backing, may give the token legitimacy. Getting the new blockchain off the ground.
After a while people will forget that gold was even backing it, and just continue using it. So, was the gold ever needed?
Gold is a pretty yellow metal.
In order to start using gold as money again, we would have to mint a whole bunch of coins, and have to train up a bunch of assayers, or develop some machine that will scan, verify and way gold. For purity, and for forgeries.
And people will have to get used to carrying around purses with a few ounces of metal. Like, carrying around a pocket full of change everywhere you go. (Yes, there are GoldBacks, that look like paper currency, but are thin sheets of gold with plastic backer.)
Yes, we could start using gold in local transactions. We can overcome all the problems, we could scale up the "gold industry" to handle all the needs.
Except for all the ones that gold can't handle. Paying in gold across the internet is still not doable.
And really, gold is not that special. Nor does it have properties that make it a great industrial metal, except that it doesn't corrode
Things that will come in the future is that blockchain will be used to aid barter.
You see, money needs to come into existence when an item is made and sold. Then the money should disappear after all the transactions are done, and the maker is "paid back" / gotten stuff in exchange.
Also gold only works as "money", in the strictest sense. Where, it may be very important to have different kinds of money, so that the pools do not destroy each other. Such as, you may have a money for buying/selling food. If you do not grow food, you cannot buy food. Gold is kinda useless there.
All of this is to say that gold may be used to back the blockchains, or a blockchain. But, over time, the new generation will not even care about gold. Digital scarcity is where its at. Gold will really be given up as a barbarous relic.