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Gold isn’t in all of our electronics over a fantasy. Platinum isn’t a unique catalyst over a fantasy. Neither are fungible only in a fantasy. Investing in mater
by Erlangolem 9y ago
Gold isn’t in all of our electronics over a fantasy. Platinum isn’t a unique catalyst over a fantasy. Neither are fungible only in a fantasy. Investing in materials with industrial value, and thousands of years of aesthetic value, and perfect fungibility bears no real resemblance to ”Investing” in crypto. As a bonus, the SEC isn’t breathing down the neck of precious metals.
Bitcoin has no real value, outside of a consensual fantasy.
- darawk 9y ago> Gold isn’t in all of our electronics over a fantasy. How much influence do you think the sum of Gold's industrial uses exert over its value? I'll tell you: nearly zero. It's all speculation. > Bitcoin has no real value, outside of a consensual fantasy. All currencies have a value endogenous to their ecosystem. Bitcoin is no different. Bitcoin is used to pay transaction fees in the Bitcoin network. US dollars derive their value because the US government accepts them for taxes. These are equivalent properties, each contingent on the success of the thing that issues them. Owning bitcoin is a bet on future demand for bitcoin, which is a bet on future demand for bitcoin transactions, which necessarily cost BTC to perform. If you believe Bitcoin will come to mediate a significant fraction of global commerce, it's a good investment. If you don't, it's not. It's as simple as that.
- Erlangolem 9y ago73% of gold is used in jewelry, a significant portion of the remainder is used in electronics and aerospace. To be honest though, if I were going to invest in a precious metal, I’d pick platinum, because it’s primary use is industrial, but it’s no less fungible than gold.