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> The article's premise is that people want to buy gold and Bitcoin because they are both stores of value and they're bearer assets, which means that you don't
by throw0101a 5y ago
> The article's premise is that people want to buy gold and Bitcoin because they are both stores of value and they're bearer assets, which means that you don't need a third party to store them for you.
> That seems... somewhat suspect as an explanation […]
It's a perfectly reasonable explanation, but it begs the question as to why people want to hold an asset (class) with those properties in the first place.
For that you probably need a psychologist more than an economist.
- yamrzou 5y agoThe author touches on that: "Some societies are more collectivist or individualistic than others, and then within those societies, various members range across a spectrum of how much they trust the system. I think a big portion of one’s perception on this topic of gold or bitcoin is shaped by life experiences or disposition. Growing up in a smooth environment where things just “work”, with no major currency failures or oppressive regimes, leads one to trust institutions more. They are fine with the concept of centralization, and giving up certain rights in exchange for certain conveniences."