RE: Instead of STEEM DOLLARS how about STEEM GOLD?
What happens to STEEM DOLLARS if the US Dollar tanks? The USD is a fiat currency after all, which means that it is susceptible to be trashed if the politicians of the day (whoever they might be) decide to devalue it for whatever reason. The USD may be the Reserve Currency of the world, but the days of King Dollar are numbered and the writing is on the wall for anyone who bothers to read.
Currency US Dollar is a lot of pkaia around the world but we have to make also a reserve currency like you say. Wearing gold for example.
In the Asian continent, especially gold Arab countries have long been in use. Similarly in Southeast Asia such as the State of Indonesia, gold mrupakan precious metals that highly uphold the existence and value.
So maybe steem should consider the use of this gold
Yes, the Asians and Arabs seem to have not forgotten the value of gold like a lot of us have in the West.
what is the value of gold? like, really - intrinsically what is its value?
Ahh, the old Intrinsic Value chestnut. I am not getting into that debate, sorry.
I'm a free market guy so gold is worth whatever someone is prepared to pay for it. Same as cryptos.
It is immutable. It is a conductor. It can be fashioned into objects of beauty. It has long been seen as something precious and recognised as a store of value. Whilst it has a finite supply, its release is also controlled. It is a tangible asset. It isn't locked up in an ephemeral blockchain. I agree with @buggedout's post here. Bitcoin and other altcoins are notoriously volatile. Perhaps injecting gold into the mix might help to stabilise the space. Intrinsically, what is gold's value? Well, it can be "mined", but not at will. There is a finite supply. Its value is, as @buggedout states below, whatever value you bestow upon it. What value does cryptocurrency have? Turn off the power. What is it worth? Most ICOs are ideas and promises, backed up by white papers. Gold is a real, tangible asset. It's not going to disappear.