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*The narrative around bitcoin has always been "It is digital currency. It works like gold".* I don't think we need to get into whether or not gold is a currenc
by shuntress 6y ago
*The narrative around bitcoin has always been "It is digital currency. It works like gold".*
I don't think we need to get into whether or not gold is a currency or a commodity but you are fooling yourself if you think that the price of gold is driven by jewelers and PCB fabs.
- tim333 6y agoYou'd be surprised how much does go to jewelry https://www.statista.com/statistics/274684/global-demand-for-gold-by-purpose-quarterly-figures/ https://www.statista.com/statistics/274684/global-demand-for... Long term the price is driven by the mining cost.