>>154858

Gold standards wasn't perfect.

Look into the role French gold hording played to trigger the Great Depression.

Also the role of the monetary policy by the Fed.

I think if there is a way to fix the money supply down to a predictable formula, like a crypto-currency, then it be less volatile than gold, and less susceptible to powerful bad actors manipulation.

>>154924

not familiar with the concept.

Every currency is backed by labor if it's accepted.

But having a labor reserve sounds a lot like slavery to me

>>154925

I agree that to dismantle the gold standard, it would take more than just pushing a button, but with enough determination it's been done.

The whole point of crypto though is the decentralized monetary supply, and the fixed, unchangeable formula. I realize that if you take VQC seriously, then there are security issues. But conceptually, if the formula is ingrained in the constitution or some other way to take the power away from the would-be villains. In theory it can be more reliable than gold.