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I hear what you're saying, but am compelled to ask: what intrinsic value does gold have?
by bhauer 9y ago
I hear what you're saying, but am compelled to ask: what intrinsic value does gold have?
- fwdpropaganda 9y agoDon't know, I don't buy gold either.
- nkozyra 9y agoGold is intrinsically scarce, but I understand where you're going. Perhaps FB has just seen that this category of advertisement is more likely to attract scammers?
- JBReefer 9y agoThere are a ton of industrial uses for gold: https://en.wikipedia.org/wiki/Gold#Other_applications https://en.wikipedia.org/wiki/Gold#Other_applications Spacecraft shielding is my favorite
- anderspitman 9y agoI forget who said it, but I once heard something along the lines of, "if we get into a situation where the value of gold goes through the roof, it'll be because things have gotten really bad. And if they're that bad people are going to realize pretty quick that they don't want gold. They want water bottles and gasoline."
- mulmen 9y agoI don't get it. If people realize they don't want gold why would the price go up?
- untog 9y agoI think the implication is that the price will spike quickly, then collapse through the floor when people realise the true situation.
- anderspitman 9y agoyeah sorry if that wasn't clear
- delecti 9y agoGold is shiny, stable (chemically and nuclearly), heavy (harder to fake by coating a facsimile), and rare. It's not "useful" per se (outside niche applications), but it definitely has a certain intrinsic suitability as currency.
- TeMPOraL 9y agoAlso, if all goes to shit, a bar of gold can still be used to club someone to death and take their supplies. Compare with bitcoin, which has no physical form and is only usable in context of present economy of technological civilization.