@martin There have been rumors in the precious metal community since 2021 when they introduced an indentation notch in gold and silver US Mint coins. The rumor is that to introduce a new monetary system that allows for use of gold and silver as money, they started the notch in the side of the coins so that a new type of scanning machine can scan the coins and it gives a molecular metal signature that is unique to each coin. Therefore they can track each coin, at least whenever it is scanned by such a machine.
Theoretically this would allow for precious metals to be used as money at the same time that cryptos are authorized to be used as money. So people can pick which of the two (or perhaps others I’m unaware of) they want to use. And both are pretty well suited to not being able to be used for criminal activity because they are tracked much better than current fed reserve notes.
I’ve heard of this but never looked into the mechanics of it. This is certainly an interesting take on how crypto could be gold backed pr by some other precious metal commodity.
Yeah but there are issues; I have to assume that the machine scans the metal surface and so it could prob be changed by scratching up the surface just like scratching off the serial number of a gun.
But maybe the scanning machines will be so prevalent that scratching up the notch will pretty much relegate it to the black market becuz normal stores won’t take it…
I wish I knew more about the financial world; I really only started learning about it in my 30’s. That is one of the travesties foisted on my generation and previous ones that we can correct with our youth now. They must understand every aspect of the financial world or they will be dominated by those that do.