People have traded gold for a really long time. With accurate measuring devices and the internet for variable prices, why do people use individual nations currencies and crypto which are often unstable?
In: Economics
Precious metals are used in a wide variety of things from jewelry to industrial uses so we’d rather use them for that.
Precious metals also change in value from minute to minute. You can’t say for sure that the value of a stick of gum will be equal to 1 copper peice. It gets even more unpredictable with larger purchases where 1 gold bar can buy you a range Rover one second and a Honda civic the next.
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