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Aside from some industrial uses, gold really has no intrinsic value aside from cosmetic. And cosmetic use is really just shared appreciation. There's really
by starkd 6y ago
Aside from some industrial uses, gold really has no intrinsic value aside from cosmetic. And cosmetic use is really just shared appreciation. There's really no reason btc couldn't offer shared value as medium of exchange in the same way fiat currency serves. Just depends on enough people who agree to use it.
- adventured 6y agoYour aside is an extraordinarily large aside and yet you casually toss it in there. Humans have a nearly unlimited desire for luxury goods and always will, quite predictably. They lust after jewelry accordingly and have for many thousands of years. Nothing about that will change. The aesthetic demand for gold will remain so long as people continue to desire luxury goods. If you drop the price of gold low enough, people will start rampantly decorating their walls and consumer goods with it. It has potent intrinsic support under the price, as much as anything can. It will remain scarce and desirable.
- eloff 6y agoMost gold isn't used in jewelry either, so it didn't derive much value from a fringe use. Ironically we go to huge effort to dig gold out of the ground, purify it, and form it into blocks and coins. Then we dig a new home in the ground, bury the gold in there and put guards outside the door. Someone here pointed out how aliens would be scratching their heads over our behavior if they could see it.
- wtf_is_up 6y agoThis is a paraphrase of the famous Buffet quote.
- lazylizard 6y agoi posit if asians, especially the indians, get tired gold jewellery , the metal wouldnt be worth nearly as much.. haha