Dogecoins - India's VC

[Skybird]

No, I have quoted past gold prohibitions myself often enough, here I mean that if you own gold, you are risking to get punished once the state bans the possession of gold, but the coins or bars you have still have a value, because you can use gold for so much more than just paying with it, and it gets demanded on the market with buyers willing to give stuff for it. That's what makes it a commodity, a value. You can "de-legalize"
gold coins, but you cannot really devalue them. With paper money and virtual money, you can do both. With paper money, devaluation is the norm.

But I said that in my post, didn't I, if you would have quoted me more completely:

Also, different to the gold standard or any other commodity money, the state can perfectly intervene anytime and declare it illegal. In case of gold coins, you are left then with the own-value of the gold, you just bear the risk of severe legal penalties if you own it

We need no virtual currencies to replace paper money. We need a commodity currency with sufficient but limited availability. It has been this balance that precious metals in the past centuries and millenia earned gold and silver such an outstanding acceptance.