The Economics of Scale Leads to Centralization of the Gold Network

The best case for a gold network is you're going to lose 90 percent of your energy over a hundred years, says Taleb. But the likely case is you'll lose 95 to 98 per cent of your energy in that same time period because it's so heavy and hard to transact. The Beijing bank got overrun by first one regime, then another regime, then a third regime. As soon as things get dicey, governments immediately monopolize that golden energy network, which is the most important in the world.

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