1. Gold (both wrought and unwrought quality) is not really fungible and never will be fully fungible, as a currency or as a holder of value (by quality nor quantity). Monero is actually fungible based on the mathematics of the universe, instead of by the pure speculation of a metal substance.
Fungibility is a basic definition in finance and money. Simply put, it is a term used to describe money and how it is an interchangeable “thing” or object. It means that the context of a piece of a thing, or subject of it, such as a piece of property, has value. This property could be anything, really; for example, a piece of paper or a small rock, or something that is generally known between two or more participating parties, or people, in a society or group, that this “thing” or object is, in fact, a fungible property as a subject.
“Fungibility” only really comes within a governance model, whether that be centralized or decentralized. That governance model is initiated as defined by the object-to-subject model stated above, and more importantly, additionally, as an institutionalized object, such as a government or a group organized as an institutionalized object. This is money.
Unless in a case where a fungible piece of property or “thing,” for example, food, which may be eaten, or water, which may be drunk, or oil, which may be burned as fuel, has a use case as a transactional value within itself. In these innate states, the object and subject are one in itself, so the value is innate. In the institutionalized object, such as money, there is no innate subject to the object. For example, in the case of gold, it is a fact and true that gold is utilized in the manufacturing of technology and mechanical products; however, in this use case, we are only referring to gold as a currency, in other words, a value “thing,” as an institutionalized object that makes up the majority of gold’s overall use case, as a “value” (or lack thereof) for humanity.
To continue, if though in some cases, say hypothetically, gold was never again referenced as a “currency” or a value “thing,” such as the core institutionalized object in modern-day reality, then its importance and relevance would be no greater than silver or tungsten, or other precious metals such as lithium, iron, and cobalt; for example, you get the point. However, only 5% of total gold consumption globally is actually utilized for industrial and technological purposes. Almost half of gold is used for jewelry and the remainder percentage used (a.k.a “held”) as a reserve(“reserveable”) asset, including a small percentage used for gold coins and goldbacks.
To reiterate the term fungibility, as an example, if I buy a 10 USD movie and you buy the same 10 USD movie, your 10 USD value is the same as my 10 USD value, and we obtain the exact same movie that we purchased. This currency is a fiat currency, based solely on the trust provided to us equally by the governance model of the centralized government. This is an institutionalized object, or a value “thing,” which gives it a subject. Moreover, it is just an object of fungibility and nothing else.
In light of these facts, gold in its standard societal form is not so much different from fiat currency, as defined above. In comparison, with Monero or Bitcoin, one cryptocurrency coin is fungible to the exact amount of its innate value based on mathematics and the decentralization of the network or governance model. However, with gold, this is never the case because its governance model is centralized and based on “trust” (or lack thereof, as in the case with the USD). Gold is truly only a “straw man” and a “house of cards,” ever since it has been in use from antiquity until today. Most importantly, the means of humanity to evolve are key, and rather than building upon our models of the past and keeping useless traditions afloat, it would be meaningless and futile. Why not use a “thing” that holds its value as a subject and as an object innately due to nature?
With, in fact, Monero and Bitcoin, for example, the ideals of mathematics and decentralization save true tradition and honor, as a fact closer to nature only, not of government “trust.” The opposite of natural trust, vis-à-vis, is “fiat” currency, which is wholly against nature in a traditional sense. For which way should humanity turn? Not towards fake currency of corruption and thievery, such as fiat currencies and objects “in-name-only” like gold.
In addition, gold is never 100% legit gold. A gold bar nor a 10 USD goldback note is never fully fungible. Gold is only fungible in trust, similar to USA fiat currency paper money as it is today.
Gold bars and goldbacks may be tainted and/or “clipped.” Ever hear about the historical stories of coin clipping and gold bar shaving? It has been a real issue for thousands of years. Gold has been a cultural standard since ancient history, but gold is never fully gold in a sense. Again, this is much more like fiat currency, but not only by a government necessarily, although also through and by a culturally set standard of mind control. Have not ancient cultures also used alternative “things” such as silver coins, bronze coins, seashells, hemp seeds, arrowheads, and other items of value for societal transactional purposes, which rather have an object and subject of innate values?
Therefore, obviously, the fungible nature of gold is left in the hands of a government’s terms of their own control governance model. Alternatively, the difference with cryptocurrencies is that the governance of these terms of use, and what constitutes natural “fungibility,” is left entirely in the hands of mathematical equations and decentralization. For example, cryptocurrencies like Monero and Bitcoin are accessible to all people. Again, with Monero or Bitcoin, one coin is fungible to the exact amount. However, with gold, this is never the case; never the case.
In addition, what makes Monero better than Bitcoin is that it is private, which is another story for later. Truly, gold will never give anyone privacy because, much like dollar paper bills, gold bars and “goldbacks” can be tracked and traced, not just tainted and clipped. Even a micro-sized clip or shave, for example, of 1,000 gold bars or goldbacks would prove this point, and the hypothetical fraudster would have enough gold to make and save himself a gold bar or goldback from the clippings or shavings.
Overall, to prove a point, in the case of a grid-down situation where a homesteader trades gold during a goods or food transaction with another homestead for items like cotton or car parts, what is the actual legitimate scenario here? Is the homesteader’s gold going to be transported, weighed, and chemically tested for each gold transaction? Or is the gold going to be stored securely and safely carried back and forth to the places and points of gold transactions? Or will gold even mean anything if it is not labeled and valued against a worthless U.S. dollar?
2. Globally, there is no finite coordinated supply of gold and there never will be a finite supply of Gold (even as a pure atom). Monero, like Bitcoin, has a finite supply as an innately trusted global cryptocurrency with Proof of Work (P.O.W).
Monero has a finite but not a fixed max supply. It’s called coin emission rate and it is similar in other cryptocurrencies like Bitcoin, and is a mechanism in place to prevent human corruption of the coin supply. Which means that there is a small amount of inflation per year, less than 1%, which will approach closer to 0% every year.
Enough said with the title though, right? In summation, pure gold has unique physical and chemical properties, but this does not make it truly valuable as a currency in its essence as a finite or even a “fixed” object. Any gold may be created in a home lab with the right materials and metallurgy chemistry. Even as a synthetic product, the lab-grown gold will pass most “fungibility” weights and materials testing during the hypothetical transactional processes of gold for goods. In a situation where a society holds gold as the primary means of transactions, there will be so many fraudsters and so many fakes that will assuredly smartly cheat and beat out weights and materials testing measurement requirements. This form of advanced coin clipping and gold bar shaving will forever grow and evade the governance models in the future, although we all know governments love the ongoing, forever inaccurate systems of control, only to increase, like a catch-22, the ongoing growth of the police and governance state via more taxes, and endless lobbying groups.
In addition to these facts, gold is continuously being found in deep mines and wells. There is no finite estimate of gold, even by the world’s best scientists and geologists. With new earthquakes and eruptions, the geology of the Earth continuously changes and evades speculation. The science of the metals in the Earth’s crust and oceans is as accurate as the mathematics of deep stars and the cosmos. But chaos is what these systems prefer. Order out of chaos is not a necessity for humanity, folks. To the control systems and government pleasers, the speculation and inaccuracy of modern scientific equations leave much cushion space for error in order to appease Wall Street and competing world governments.
3. Monero may be used offline temporarily, aka without an internet connection, just like gold and other material means of remote “transactioning” of energy, which is defined as an alternative word for “currency” (a life flow of human mechanics e.g. P.O.W).
False: If the world goes grid down and we move back into the 1800s, which, sadly, some people in the USA homesteader movement think they will be comfortable with, then all digital cryptocurrencies will be null and void and useless.
The radio was invented in the late 1800s, and there are some speculations that ancient cultures had the capability to accept and receive electricity at a distance, meaning that Morse code, for example, was most likely used thousands of years ago. So if these American homesteaders with lots of land and firearms are happy without the internet, then think again. Radio and electricity at a distance, for example, Morse code, will pretty much never go away at this point. Unless an overruling government crashes and controls all potential radio spectrums of Earth, which is a rare possible occurrence today.
Let’s come to an agreement that society and people like to communicate, and the internet, or in a lesser form, radio communication, will never go away in modern times. I’m sure the homesteaders in the country will at least want a phone to call the other homesteaders a few miles away so they can meet up to weigh and test their gold transactions for car parts. Just kidding on that one, but it’s true that phone calls and radio, even Morse code in its simplest sense, will be here to stay. Is not radio and phone technology just a simpler form of the digital internet? Did society not go from 1G to 2G to 3G to 4G and now to 5G and beyond?
Okay, so let me get to the point: cryptocurrency can be communicated via radio! If the internet and/or electrical grid goes down for some time, then I’m sure every person will know a ham radio guy next door or set up their own. Internet connections can be made over other electrical RF spectrums of communication that are not the typical internet as people know it today. Just because your phone can’t connect or your laptop can’t find mobile data or Wi-Fi does not mean we cannot communicate at a distance, be it by either analog or digital means.
For another scenario, in even more desperate cases where my homestead has no electricity, no radio, and no means to communicate with the outside world, instead of going to the gold goods or car parts transaction a few miles away with the gold homesteader neighbor Y, I would just bring an official Monero “IOU” card, a Monero-backed currency note, in order to complete a Monero transaction when my internet radio is back online after my wife and son bring home the newly bought cathode ray tube from homestead X, which is across the county. In the real world, trust and honor are important, right? I’m sure that if homestead Y knows that I only have a handful of homesteaders to work with, then I would not want to screw him over because the other homesteaders in the area would know me, and eventually, the entire county would know that I had screwed him over on the transaction. This hypothetical story would be a rare or null case for most people in dire straits because eventually, society weeds them out; especially if the honorable homesteaders got to the point they are at with surviving a grid-down situation over some time. Why carry around worthless gold, which, when the USD collapses, will have a million-dollar USD value per ounce, but it won’t mean anything at all anyway, right?
True: Monero may be used offline temporarily, with or without a common internet connection. The universe is built on mathematics. Should not the logic of men be rules by sanity rather than pure speculation and blatant trust.
4. Throughout human history, hundreds of millions (probably many billions) of human men (including possibly less than 0.0001% women K.I.A, in all human wars combined) have died, or just been murdered, because of the human to gold “adventure of control”, due to unruly governments and the psuedo-blood (gold) lust of ignorant kings/presidents.
Since ancient history, how many men have died in government wars over gold, or been robbed and/or murdered for gold? Otherwise, how many men have died in mines, or from failing industrial equipment, or even from exhaustion in the survey or extraction process, or in other selfish “royal”-based feudal wars over gold? One example is the USA’s westward expansion in the 1800s, where many small mining towns popped up all over the West, most just temporary towns that eventually turned into ghost towns. The amount of effort and willpower to find, extract, and transport gold— for what purpose, unlike how an animal finds food before dawn? Aren’t humans more evolved than apes or predators of the jungle? Gold has caused too much thievery and death to be instituted in any form of human governance. It is a fact that throughout history, hundreds of millions of men have died because of gold, all at the behest of human riches and power. In comparison, not many men have died because of cryptocurrency. It could be correct that there are some stories of people being held for ransom or robbed over cryptocurrency, maybe a few hundred, but the number most likely pales in comparison in this scenario. Gold is shiny and nice in form and has chemical properties that are rare on Earth, but for a cultural institution and government market to fabricate a superficial “value” of a metal like this is insane and not an evolved human function at all. Remember that even in modern times there are other metals and real solutions to replace the important 5% of modern gold consumption, for the majority of its uses in industry and technology sectors, for example Silver Maxphase to name one solution for use.
5. Gold does not have magical powers, nor a religious biblical myth that is founded in truth. Even according to the Judeo-Christian bible, some “god” is not found through the uncanny nature of Gold, or any other material substance of this temporary earth.
Gold does not have magical powers, not in the religious biblical myth of Moses and the gold ark, nor in the supposed ancient golden holy grail stories. The chemical properties have been lauded for their supreme value in metallurgy and alchemy; however, these points don’t make up for the rigidly superficial honoring of gold, like a god, by men throughout history, more so than even their supposed higher powers. Humans have treated gold like a god. Is this not childish, or even animalistic by nurture? Remember that over 95% of the need for gold today is for human fancy or as a reserveable or transactional currency. This truly means that humanity prefers to be 95% backward, and 5% forward, in its evolution for its propensity of abstract manipulation of human means, meaning energy and labor corruption. The circumcised conspiracy of “gold” needs to end, and come out from hiding, in order to show its fake face of falsifying human character, human nature, and human mechanics.
