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Gold is something that exists IRL. It has value even in the absence of a market to buy/sell it. It can be melted down and formed into jewelry, as a simple exam
by cj 6y ago
Gold is something that exists IRL.
It has value even in the absence of a market to buy/sell it. It can be melted down and formed into jewelry, as a simple example.
The reason I won't buy into crypto is it's impossible to make informed investment decisions because, as an investment, the price is driven too highly by unknown market forces (at least unknown to me...).
Perhaps it's a good investment if you truly feel you understand what drives the price of bitcoin, or have insider knowledge that you know will affect its price that others don't.
- SparkyMcUnicorn 6y agoI've never really understood the argument around gold being better because you can melt it down into jewelry. If there isn't a market for gold anymore, then the jewelry wouldn't be worth more than costume pieces, right? I guess the argument is that you can still make pennies on the dollar if there isn't a market for it anymore? Your other arguments I can understand, although I do think the use of cryptocurrencies will keep growing whether I like it or not.
- Siira 6y agoJewelry is even more useless than ledgers.
- keymone 6y agoBitcoin exists IRL - you can write down you private key on the piece of paper and that piece of paper suddenly is worth however many bitcoin is behind that key. The informed investment decision is that crypto is entirely new asset class and bitcoin is king. There is redistribution happening between asset classes and especially this year when 30% of all USD in existence was printed, there will be large inflows into bitcoin. Of course it will be volatile for a while.
- zadler 6y agoThe point is that it’s not going away. Many times it has been pronounced dead but it has maintained enough utility to keep growing. This gives people confidence in it over time.