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The characteristics from which gold derives it's value are basic facts of the universe. The characteristic from which bitcoin derives it's value is a brand nam

by cb18 10y ago

The characteristics from which gold derives it's value are basic facts of the universe. The characteristic from which bitcoin derives it's value is a brand name. A 'bitcoin asteroid' can be found by simply copying the bitcoin source code and building a stronger brand.

suprfsat 10y ago
A bitcoin asteroid can be created by launching a sufficient mass of bitcoin pundits into orbit around the sun.
digi_owl 10y ago
> The characteristics from which gold derives it's value are basic facts of the universe. Yeah, human ability to worship.
- cb18 10y ago
  I was thinking more along the lines of resistance to corrosion, elemental arrangement of particles, etc. Theoretically, human ability to worship should be transferable to any object of worship.
  - digi_owl 10y ago
    Those practical properties do not explain the special significance pure gold is given in world trade. Frankly form where i am sitting that significance has virtually shit all to do with golds chemical properties, and all to do with history. Trade among locals were likely settled via OIUs (carrots now for mutton later or whatever). But settlement between distant peoples were harder. One option would be by weight, with the lowest common denominator being some food grain or other. And here gold may come in, from one of those properties you mentioned, resistance to corrosion. Makes for a durable weight measurement token. But weight depends on purity. So in comes some ruler or other that puts a brand on a measure of gold to guarantee the purity. Over time that guarantee then becomes so reliable that people starting using the tokens directly in exchange rather than bringing out the scales. But it is the purity guarantee that in the end make gold more than a shiny metal. And using modern material production the same guarantee could just as well be placed on a piece of plastic or similar. But still people go gaga over gold. AKA worship.
  - maaku 10y ago
    There are better alternative for those properties than Gold, however. Gold just happens to be the same color as the presumed Sun-god.
    - cb18 10y ago
      ohh.. Better go tell a large percentage of the world that they are wrong and they should all buy bitcoin then.
      - tedks 10y ago
        These are the only two options for you? Gold was created by God with all the properties to function as a medium for exchange (literally the belief of Islamic State), and what exactly, that Bitcoin is the One True Medium of Exchange and we should all melt the gold and use that? Fortunately even Bitcoin enthusiasts are less gung-ho about their currency then some gold-nuts like Islamic State. Source for Islamic State: https://www.youtube.com/watch?v=BG7YXKE4x3w https://www.youtube.com/watch?v=BG7YXKE4x3w

by cb18 10y ago

suprfsat 10y ago

A bitcoin asteroid can be created by launching a sufficient mass of bitcoin pundits into orbit around the sun.

digi_owl 10y ago

> The characteristics from which gold derives it's value are basic facts of the universe. Yeah, human ability to worship.

cb18 10y ago
I was thinking more along the lines of resistance to corrosion, elemental arrangement of particles, etc. Theoretically, human ability to worship should be transferable to any object of worship.
- digi_owl 10y ago
  Those practical properties do not explain the special significance pure gold is given in world trade. Frankly form where i am sitting that significance has virtually shit all to do with golds chemical properties, and all to do with history. Trade among locals were likely settled via OIUs (carrots now for mutton later or whatever). But settlement between distant peoples were harder. One option would be by weight, with the lowest common denominator being some food grain or other. And here gold may come in, from one of those properties you mentioned, resistance to corrosion. Makes for a durable weight measurement token. But weight depends on purity. So in comes some ruler or other that puts a brand on a measure of gold to guarantee the purity. Over time that guarantee then becomes so reliable that people starting using the tokens directly in exchange rather than bringing out the scales. But it is the purity guarantee that in the end make gold more than a shiny metal. And using modern material production the same guarantee could just as well be placed on a piece of plastic or similar. But still people go gaga over gold. AKA worship.
- maaku 10y ago
  There are better alternative for those properties than Gold, however. Gold just happens to be the same color as the presumed Sun-god.
  - cb18 10y ago
    ohh.. Better go tell a large percentage of the world that they are wrong and they should all buy bitcoin then.
    - tedks 10y ago
      These are the only two options for you? Gold was created by God with all the properties to function as a medium for exchange (literally the belief of Islamic State), and what exactly, that Bitcoin is the One True Medium of Exchange and we should all melt the gold and use that? Fortunately even Bitcoin enthusiasts are less gung-ho about their currency then some gold-nuts like Islamic State. Source for Islamic State: https://www.youtube.com/watch?v=BG7YXKE4x3w https://www.youtube.com/watch?v=BG7YXKE4x3w