5 ms·
The perceived value of gold as a store of value comes in part from the fact that humans have been using it as a means of trade/store of value across a vast span
by codebolt 7y ago
The perceived value of gold as a store of value comes in part from the fact that humans have been using it as a means of trade/store of value across a vast span of cultures for many millenia. Bitcoin has been around for 8 years. With Bitcoin there is no guarantee that competing technologies won't spring up to replace it in the mid- to long-term. Gold will always be gold.
Also, gold is shiny. Personally, I'd much rather have a gold bar in my safe, that I could take out and hold in my hands, than a memory stick with some Bitcoin on it.
- nicky0 7y agoBitcoin (small c)
- codebolt 7y agoFixed
- deegles 7y agoThis is a weakly held belief but I feel it’s risky to buy gold for long term holding because asteroid mining will render it cheap and abundant in my lifetime. :)
- coldtea 7y agoForget "asteroid mining" in our lifetime (and the next 2-3 as well).
- coldtea 7y ago"But I want it to happen, so it must" --> downvote.
- madshiva 7y agoIt's like saying soon the gold will worth nothing because my alchemical guy will finally make the philosopher's stone. Asteroid mining will have a cost and therefore not will be render it totally cheap… or green. Bitcoin is neither green or worth anything, it's just in the head of people.
- pjc50 7y agoI think it's energetically cheaper to extract it from the sea than from anywhere in space. At current prices even if the moon was pure gold I don't think it could be economic to recover.
- buckthundaz 7y agoHow do you send a piece of your gold to someone in another part of the world? https://hacked.com/wp-content/uploads/2017/11/gold-commodity.png https://hacked.com/wp-content/uploads/2017/11/gold-commodity...