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except gold has been valuable for thousands of years and retains value without electricity and internet, none of which are true for BTC.
by kryogen1c 5y ago
except gold has been valuable for thousands of years and retains value without electricity and internet, none of which are true for BTC.
- gruez 5y agoIn other words, gold is a more proven/resilient ponzi scheme
- RivieraKid 5y agoGold has plenty of use besides speculation - jewelry, decoration, electronics, healthcare.
- gruez 5y agoCovered in the GP comment. >[1] it's literally a shiny yellow rock. You can argue that there's some intrinsic value for use in jewelry or electronics, but given the demand breakdown (https://www.statista.com/statistics/299609/gold-demand-by-in https://www.statista.com/statistics/299609/gold-demand-by-in...) and the current price, anyone buying right now is going to experience massive losses should a collapse happen
- RivieraKid 5y agoI know that only about half of the demand for new gold is for investment, but this means gold is in much better position than Bitcoin. Bitcoin can go to zero because it has no intrinsic value, unlike gold.