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Assets similar to bitcoin are somewhat rare on the ground. Art, antiquities, maybe a few other things. (Precious metals are typically useful for other things.)
by mcguire 6y ago
Assets similar to bitcoin are somewhat rare on the ground. Art, antiquities, maybe a few other things. (Precious metals are typically useful for other things.) Few people regard those assets as useful investments, in anything other than a diversification sense. No one regards them as economically productive.
- shawnz 6y agoI completely agree with these statements, except I think the intrinsic value of precious metals is exaggerated and Bitcoin also has functional value as a monetary technology (not generally in an important way for most first-worlders though).
- imtringued 6y agoGold derives its store of value property from being an elemental shelling point. It's the best element to be used as a store of value. That property will not disappear in the future since it's based on the laws of physics. However, the exact price is obviously not guaranteed. Merely the ability to keep exchanging it in the future.
- shawnz 6y agoAgreed, I only mean to say that the intrinsic value (i.e. for jewellery or electronics) is exaggerated. Gold has obvious usefulness as a store of value and an inflation hedge, although I think Bitcoin or a similar technology has the potential to be even better/more guaranteed/more convenient.