Using gold money as commodity money is sensible for citizens that are responsible that are in search of pegging their services, goods, and labor to one unit of an account which can mirror their personal saving requirements and consumption. If you view your aggregate monthly spending and unless the main portion of this income is used on your financial assets it may be a better option to use commodity money to measure your net worth and earnings power.
Utilizing gold money in the form of commodity money will make sense due to the laws-of-physics and universal truths. Unless you are a person who possesses superhuman powers, then you too will be bound to these laws-of-physics which mean it makes perfect sense to own gold. That is an entity that is immortal when it comes to human-entropy which you can bequeath onto your family in the form of the heirloom which can leave a legacy that is enduring in association to posterity.
Also, the use of gold money in the form of commodity money also makes sense as it removes the transfer of the value that occurs between 2 parties, foreign exchange, settlement times and friction costs. Even when you are not interested in actually owning gold, it is important to see that the use of gold money in the form as a type of conduit in association to value transfer will be superior to other methods or banking systems.
It is wise that you aware that there will soon be an upheaval in regards to financial services. These changes will result in the long-held axioms that will be tested to their very cores. Why are there costs involved in moving money? What is money? Why do individual nations have much stronger currencies while some other have much weaker?
From the Minoan traders in the area of Crete, from 4000 years back to John Law associated with what was known as the Mississippi Bubble which was only 300 years back, the history is backed by thousands of different experiments with various types of currency. This includes money deposited into the different banks that pay out low rates of interest, money which was backed by the government with a promise, and money which favored specific elite to money that was in support of specific doctrine or ideology over others.
All these approaches have been tried and tested and have failed time and time again. However regardless of the amount of times that these experiments are taking place all of our natural states is what causes the reversion in what regards to what we see money as. This is related to that we always seem to rediscover the values in using gold money as a global neutral commodity type of medium and a "unit of account."
Humans are a fantastic species that are enthralled by the universe and the planet. We all have a goal in working hard and most strive to share this prosperity with our families. We also engage in these trades in the form of a naturally bases evolutionary productivity. As the scales of the times have been stretched, the human species still resorts to the default state in regards to prosperity, empathy, and cooperation.
Services like BitGold has been able to spawn more reversions in regards to that success still coincides with the upheaval that we see in the digital based value transfer such as the cryptocurrencies and the fintech in regards to PayPal, Stripe, Square, Google Wallet, Samsung Pay, Apple Pay. All around the world, subliminal feelings are starting to develop in regards to friction that surrounds financial services.
These feelings are similar to last riders related to the horse buggies in 1908 in Detroit as they started to take notice of Ford Model Ts that were driving along the streets. When using gold money as the sole units of account as well as the store-of-value places us in the position in creating global-unified savings network and payments that have not been restricted by the debt system or currency of a nation.
While it may still be early days, in around 10 years from now, over 50% of the population globally will be relying on the various financial companies like BitGold in regards to financial services which completely supplant incumbent core businesses.
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