I agree with the concerns about dust.
Ok, we can solve the divisibility problem even using coins. Just use copper as well, not just gold and silver.
So that you spend gold/silver coins for big purchases, and copper for coffee etc.
About testing at home, what do you think about these ( they cost a few hundred bucks, reasonable ) :
https://www.amazon.com/ET-18-GOLD-TESTER-CECOMINOD046457-Tester/dp/B0058EDPU0/ref=pd_sbs_3?pd_rd_w=oq93r&pf_rd_p=ed1e2146-ecfe-435e-b3b5-d79fa072fd58&pf_rd_r=RCZWJ1N4S0XS0QTX07R9&pd_rd_r=f43392dd-267e-4878-a896-c8c131e6a686&pd_rd_wg=BKmnq&pd_rd_i=B0058EDPU0&psc=1
https://www.amazon.com/AuRACLE-AGT3-Digital-Electronic-Tester/dp/B010F7JJZ4/ref=sr_1_4?dchild=1&keywords=silver+analyzer&qid=1609232989&sr=8-4
And this one would be suitable for a shop https://www.amazon.com/JIAWANSHUN-Electronic-Densimeter-Analyzer-Testing/dp/B013JOTC1Q/ref=sr_1_2?dchild=1&keywords=silver+analyzer&qid=1609232989&sr=8-2
or this https://www.indiamart.com/proddetail/gold-purity-testing-machine-22714059191.html
Shops may even be used as a third party for direct transactions between people. We meet at a shop, i give you my coins, the shop analyzes them , and we pay a commission to the shop.
My concern is, do these machines analyze the internal part of the coin as well? Smart people may put a different metal inside the coin, which passes the magnet test, and gold only on top.
Topic: The new cash: Gold & silver POWDER (Read 119 times)
- traceable ( although cryptos are not, especially privacy-focused ones )
I suspect >80% of Bitcoin txs are traceable due to people not giving a damn about their privacy. Even privacy-focused coins aren't perfect because human mistakes could easily lead to leakage of very important information.I dream of a world where people go to shops, and buy goods with gold/silver powder.
The shops would have a device which analyzes the powder you put in, to verify it is actual gold and not something else.
There will be also a weight scale that tells you also how much your powder is worth, to match with the exact price of the good/service you are buying.
Oh man, I see this going wrong so many ways! Imagine how much powder there'd be lost - especially for gold. How about pushing the powder-filled box/cup by mistake and losing a significant part of your powder?The shops would have a device which analyzes the powder you put in, to verify it is actual gold and not something else.
There will be also a weight scale that tells you also how much your powder is worth, to match with the exact price of the good/service you are buying.
That's why we need precious metals to be divisible, to become suitable payment methods.
The first thing you should think about is.. how realistic is it really to think of gold or silver as a currency to replace cash? It isn't as realistic as it sounds. Precious metals are nowadays easier to fake than ever before - would you trust a p2p transaction with me where I give you silver and you give me gold? I wouldn't. If the government bans cash, the worst thing they can do is allow precious metals to be used as a currency. Cash can be controlled; gold and silver can't. If they want to ban cash due to their thirst of control, then PMs are going to probably just have even more usage restrictions than they have today.Is there some kind of gold grinder for home use? Otherwise you have to go to a workshop, and it would be not practical.
Is there also any machine that can automate gold & silver analysis?
Both grinding and analyzing requires quite expensive machines if you want both accuracy and speed. It isn't practical for the average household/Joe. Is there also any machine that can automate gold & silver analysis?
<> will ban cash sooner or later. We will be left with just digital money ( cryptocurrencies , paypal, banks, ... ).
But digital has 2 drawbacks:
- can be hacked!
- traceable ( although cryptos are not, especially privacy-focused ones )
We really need something to replace cash, which is physical and can be spent at local shops.
I dream of a world where people go to shops, and buy goods with gold/silver powder.
The shops would have a device which analyzes the powder you put in, to verify it is actual gold and not something else.
There will be also a weight scale that tells you also how much your powder is worth, to match with the exact price of the good/service you are buying.
Before that, people need something to grind gold/silver coins/bars into powder.
You cannot buy a coffee with a bullion!
That's why we need precious metals to be divisible, to become suitable payment methods.
Is there some kind of gold grinder for home use? Otherwise you have to go to a workshop, and it would be not practical.
Is there also any machine that can automate gold & silver analysis?
Maybe for gold powder it's easy: you just look at the color and then use a magnet to divide real gold from, say, tungsten.
For silver powder you may use a magnet and then do the ice cube test. The problem is that test is too time-consuming. Not very practical to do at a shop.
Any thoughts?
But digital has 2 drawbacks:
- can be hacked!
- traceable ( although cryptos are not, especially privacy-focused ones )
We really need something to replace cash, which is physical and can be spent at local shops.
I dream of a world where people go to shops, and buy goods with gold/silver powder.
The shops would have a device which analyzes the powder you put in, to verify it is actual gold and not something else.
There will be also a weight scale that tells you also how much your powder is worth, to match with the exact price of the good/service you are buying.
Before that, people need something to grind gold/silver coins/bars into powder.
You cannot buy a coffee with a bullion!
That's why we need precious metals to be divisible, to become suitable payment methods.
Is there some kind of gold grinder for home use? Otherwise you have to go to a workshop, and it would be not practical.
Is there also any machine that can automate gold & silver analysis?
Maybe for gold powder it's easy: you just look at the color and then use a magnet to divide real gold from, say, tungsten.
For silver powder you may use a magnet and then do the ice cube test. The problem is that test is too time-consuming. Not very practical to do at a shop.
Any thoughts?
Jump to: