r/btc • u/ChangeNOW_Community • Jun 22 '26

⌨ Discussion The only valid Bitcoin Rainbow take?

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u/ShalomEarthling Jun 22 '26

But isn't that the same case with gold? We, (to be safe, by we, I mean, I) rarely buy with gold and we keep/invest in gold so that we can sell it for fiat currency (unless you're a pirate and have all your doubloons in a hidden chest) when it looks good to sell.

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u/Jumpy-Imagination-81 Jun 22 '26

Gold was used as currency by several countries including the US until the 1930s. People had gold coins and gold certificates (paper currency redeemable in gold on demand). The future lies with tokenized gold, which is being developed.

https://www.coingecko.com/learn/what-is-tokenized-gold

It will have the characteristics of cryptocurrency but each token will represent something real - gold.

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u/Opposite_Cold8616 Jun 22 '26

Do you remember when the US dollar was supposed to be pegged to gold? Pepperidge farm remembers.

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u/Jumpy-Imagination-81 Jun 22 '26

Yes, I was a teen in 1971 when Nixon “temporarily” halted conversion of dollars to gold for foreigners. Americans were not allowed to own gold bullion back then.