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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/Go
by 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 agoLiquid 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 agoFor 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 agoThat'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 agoDo 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.