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A gold ring isn't a store of monetary value, and the value of it outside of the jeweler is based on its gold content only, and in some cases collectible value.
by gpapilion 5y ago
A gold ring isn't a store of monetary value, and the value of it outside of the jeweler is based on its gold content only, and in some cases collectible value. Its value to the wearer is subjective in nature, and will vary based on wearer.
So with regard to bitcoin, it's not art, and not a useful commodity. It can be a representation of "value", but then why make it expensive to make since it's only a representation?
- c22 5y agoI'd argue bitcoins are actually rather inexpensive to make since they require no physical inputs (see my posts downthread).