But it's time tested. With Bitcoin there's a lot more variables of loss that the government can't control with their army. If they can't, they won't trust it.
You're right there's a trust problem, but that's going to operate both ways. China wants to send money to Germany. Right now their option is to use the global reserve currency, i.e. USD.
So they want to use gold... how exactly? IOU's? Who's going to trust that?
So they want to use gold... how exactly? IOU's? Who's going to trust that?