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Except gold has a real industrial value (electronics), and is an exponentially more stable and liquid asset than bitcoin (albeit not as stable as goldbug scamst

• scotty79 7y ago
  > Except gold has a real industrial value Apparently nobody cares because only a small fraction of gold is used for that purpose. Most is used to sit on it. Stable... hard to tell, let's see after a millenium or two. Gold had a pretty good run till now, but hauling one asteroid towards earth or figuring out how to cheaply filter it out of ocean water will drop its value to dirt cheap. More liquid... probably. Market for gold is still larger for now. Let's check that after a decade or two. Trends don't look too optimistic for gold when compared to btc.
  • dehrmann 7y ago
    > Apparently nobody cares because only a small fraction of gold is used for that purpose. It's better for electronics than copper, so there's that. > but hauling one asteroid towards earth Seems impractical, expensive, and the yield isn't clear. > or figuring out how to cheaply filter it out of ocean water will drop its value to dirt cheap. You should check your math on this. 342,600,000 pounds of gold have been mined[1], but the oceans hold 20,000,000 pounds[2]. 1: https://www.bbc.com/news/magazine-21969100 https://www.bbc.com/news/magazine-21969100 2: https://www.atlasobscura.com/articles/gold-ocean-sea-hoax-science-water-boom-rush-treasure https://www.atlasobscura.com/articles/gold-ocean-sea-hoax-sc...