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caleb | 8 months ago (raw) | root | parent | reply | flag 
 208k metric tonnes represents about 7 billion ounces of gold in reserves today.  Thats about one oz for every person on the planet, about the size of a single $2k coin.

https://companiesmarketcap.com/gold/marketcap/
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Gavin Green | 8 months ago (raw) | root | parent | reply | flag +1 
 I agree that it is possible, but did it work out that way? Distribution is never uniform even when the gold standard was in play. Does everybody need to own a utxo when we are on a bitcoin standard? I just don’t know
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caleb | 8 months ago (raw) | root | parent | reply | flag 
 Agreed. Even in “the Bitcoin Standard” the base chain was assumed to only be used down the road between large institutions/banks/countries. And in early Bitcoin blog posts there is a similar story.  Hopefully some privacy preserving and minimally custodial layer 2 solutions keep getting developed.  We’re still years away from consistant $100+ fees ( I hope )