Gresham's Law, as I understood it, was summarized as bad money replaces good money. By that I mean for example how silver money was removed from circulation to leave only non-silver money. Crypto is the opposite in that regard. Good coins will replace bad ones.
Completely agreed about how goldmoney.com suffers from the same issues as other currencies that depend on the bank, payment, and Internet systems to be up and running. I wouldn't consider gold to be the solution to those being down though. Silver and "junk" silver would be better alternatives. Gold would be reserved for very large purchases.
Good point. You would have to get a pretty small piece of gold to buy a candy bar...
The people in Africa were panning for tiny particles of gold to feed their families.
It actually has happened and is probably still happening. Look up the YT videos on it. The situation was very sad. :(
I believe it. I spent a month in Ethiopia several years ago. Very eye opening experience. My dad works for a charity that helps teach people in extreme poverty (<$1 a day) how to be self sustainable so he gets to see first hand what extreme poverty does to society... But there are a lot of good stories too when people get some hope and realize they don't have to wait for the government or the Americans to come and save them.