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Same can be said for gold. Are most users even capable of melting it into tools when there's nobody that wants to trade for it?

tradri 6y ago
The argument for gold is that it isn't 100% a speculative investment. According to Wikipedia(https://en.wikipedia.org/wiki/Gold https://en.wikipedia.org/wiki/Gold) 50% of gold's use case is in making jewelry and 10% is used for industry. On the other hand, Bitcoin isn't used for anything, except as for a speculative investment, not even as a currency or as a "decentralized PayPal".
- wyldfire 6y ago
  Liquid value that's easily transferred has utility on its own. It's not a genuine argument to claim that "bitcoin isn't used for anything".
  - tradri 6y ago
    For the vast majority of people Bitcoin in its current form provides a worse user experience than PayPal, VISA, etc.. because the fees are a lot higher and the transaction times are longer. If you want to buy $1.5 billion worth of Bitcoin the $5-$50 transaction fee doesn't matter. For the majority of people it matters though.
  - RivieraKid 6y ago
    That's the value of the Bitcoin system, not of a single Bitcoin. Gold can provide utility by itself, for example, you can make jewelry from it.
    - 177tcca 6y ago
      Do you think the value of Facebook stock is in the tangible worth of their building, or IP?
- ardy42 6y ago
  > The argument for gold is that it isn't 100% a speculative investment. According to Wikipedia(https://en.wikipedia.org/wiki/Gold https://en.wikipedia.org/wiki/Gold) 50% of gold's use case is in making jewelry and 10% is used for industry. On the other hand, Bitcoin isn't used for anything, except as for a speculative investment, not even as a currency or as a "decentralized PayPal". Also, Gold has literally thousands of years of cultural precedent as being a "valuable thing." Bitcoin, not so much.
SV_BubbleTime 6y ago
Right, where would people even get 700 B.C. technology to “use” gold!? (Of course gold has intrinsic value! Just because you can’t use a thing, doesn’t make it worthless to me, I’ll still buy your gold despite you not knowing anything but how to pull it from your pocket)
kgwgk 6y ago
What would you rather have magically transferred to you and why? All the gold in the world or all the bitcoins in the world?

tradri 6y ago

The argument for gold is that it isn't 100% a speculative investment. According to Wikipedia(https://en.wikipedia.org/wiki/Gold https://en.wikipedia.org/wiki/Gold) 50% of gold's use case is in making jewelry and 10% is used for industry. On the other hand, Bitcoin isn't used for anything, except as for a speculative investment, not even as a currency or as a "decentralized PayPal".

wyldfire 6y ago
Liquid value that's easily transferred has utility on its own. It's not a genuine argument to claim that "bitcoin isn't used for anything".
- tradri 6y ago
  For the vast majority of people Bitcoin in its current form provides a worse user experience than PayPal, VISA, etc.. because the fees are a lot higher and the transaction times are longer. If you want to buy $1.5 billion worth of Bitcoin the $5-$50 transaction fee doesn't matter. For the majority of people it matters though.
- RivieraKid 6y ago
  That's the value of the Bitcoin system, not of a single Bitcoin. Gold can provide utility by itself, for example, you can make jewelry from it.
  - 177tcca 6y ago
    Do you think the value of Facebook stock is in the tangible worth of their building, or IP?
ardy42 6y ago
> The argument for gold is that it isn't 100% a speculative investment. According to Wikipedia(https://en.wikipedia.org/wiki/Gold https://en.wikipedia.org/wiki/Gold) 50% of gold's use case is in making jewelry and 10% is used for industry. On the other hand, Bitcoin isn't used for anything, except as for a speculative investment, not even as a currency or as a "decentralized PayPal". Also, Gold has literally thousands of years of cultural precedent as being a "valuable thing." Bitcoin, not so much.

SV_BubbleTime 6y ago

Right, where would people even get 700 B.C. technology to “use” gold!? (Of course gold has intrinsic value! Just because you can’t use a thing, doesn’t make it worthless to me, I’ll still buy your gold despite you not knowing anything but how to pull it from your pocket)

kgwgk 6y ago

What would you rather have magically transferred to you and why? All the gold in the world or all the bitcoins in the world?