There are no monetary standards anymore. Nixon abandoned the Gold Standard for foreign central banks in 1971, and for U.S. residents convertibility was ended decades earlier even.

Now you as an individual are perfectly able today to say that for every $100 you allocate for investment, $50 goes into buying gold (at ~spot price) and $50 goes into buying bitcoin (at ~spot price), ... or something like that. But the days of a government saying "our currency can be converted into and out of this bitcoin + gold basket, at this fixed rate of exchange", ... those days are long gone.

Well remember why Bitcoin and not gold. I have the utmost respect for people who choose gold and don't think there's anything wrong with that. In fact I think its quite good for them, as long as they understand counter-party risk and hold their own gold so that an executive order banning gold is more difficult to enforce against them.

Bitcoin is simply more convenient than gold to sell and to transact over the internet and to custody without a counter-party. Any other solution would completely miss on these benefits.

If i'm being dumb tell me why