Crypto Currencies as a mechanism of Commodity trading

Common currency, what is it?  Is it a pipe dream?  Is it an adaptation?  Or is a looping rathole to get stuck in?  Or is "Currency vs. money" counter productive way to look at it because of the nature of large scale trade.  Maybe a good place to start with an overview.

"Money" has three defining characteristics:
-- a unit of account
-- a store of value
-- a medium of exchange

Since we live in the 'real' world, there is no "perfect" money. We use different things as money, and each thing we use embodies each of those defining characteristics better (or worse) than others.

Silver and Gold, for instance, is an excellent store of value. In the modern economy, however, it is a poor medium of exchange or unit of account because of market manipulation dynamics involving scam ETF and ETN funds.  If reviewing the dynamics of gold and silver.  The M2 money supply is about $10.5 trillion, probably higher since most of what's published is a lie.  The amount of gold held by the United States government is approximately 260 million ounces, if true.  Probably closer to 0 ounces with all the shenanigans going on.  Doing the math, that translates to north of $40,000 per ounce for gold.  Using the 17:1 ratio prior to the introduction of leveraged commodity trades without any enforcement to reality, that would put Silver at $2300 per ounce today.

If this is too difficult to even comprehend, it is because all sorts of laws and practices have been removed or heavily modified in favour of large banks to 'print' gold and silver from thin air on paper with ETF's and ETN's (which should be illegal and closed to repair market dynamics).  This is in no one's best interests short and long term, obviously the damage is done from all the corruption occurring that has been committed by the central banks and every last bank executive that followed their plan of the destruction of the world economy without a plan to transition.

Now the fiat PAPER dollar, was a fair to middling store of value once (better in third world jurisdictions than in the USA), and up until thirty years ago was an excellent medium of exchange. Governments have declared war on cash in recent years, however, severely reducing its value as a medium of exchange.

The fiat ELECTRONIC dollar as it is today is a lousy store of value, for reasons that don't have to be elaborated here. Its digital nature, and the SWIFT network it resides on, made it an an excellent medium of exchange.   It also made it highly manipulable to the point that no one, even the people trading it, will ever break even or come out a head.

Up until the central banks and their government services started making it difficult for non-corporations (aka people) to actually use it as a medium of exchange in large amounts. It was also the worlds best unit of account-- at least until a couple of decades ago. Now that he world is moving to bilateral currency swap agreements, the dollar's usefulness as a unit of account is under attack for the obvious reasons

Crypto currencies is up in the air right now. It's volatility against other forms of money implies that it is an uncertain store of value until it is backed by a unit of measurement by a commodity.  It is superior as a medium of exchange for any commodity that it HAS meaningful value; so we can conclude that it can be measurable store of value at some point in the future.

The reason BitCoin exists is because the fiat electronic dollar is turning into a over leveraged, over sold and backed with nothing of value. The dollar had real value in all three monetary dimensions at one time, because the US was a free country once.  The nations that use fiat have sold themselves multiple times at interest rates that will never ever be able to be paid back. But that's over. Since commerce wants to be free, it found BitCoin and the boom of many different types of crypto currencies.

Now a couple of years later, the crypto currency phenomenon has adapted dozens of spin off currencies from the same open source code provided by Satoshi Nakamoto.  Each new crypto is all based from the same trunk development, each however have different features.  Some have built in creation destruction cycles with easier coin rendering.  Others, like BitCoin are well established and serve as the model baseline of comparison.

The next article I write on the topic will involve examples on how to use crypto currencies as the currency of commodity dealers using the UN commodity definitions since it appears to be the most comprehensive list.