3 ms·
Here's an argument I find more compelling. Gold has uses. Even if every gold bug in the world lost faith, and we developed a strong cultural aversion to yello
by retrac 5y ago
Here's an argument I find more compelling. Gold has uses. Even if every gold bug in the world lost faith, and we developed a strong cultural aversion to yellow shades, gold would continue to be consumed. Its price is pretty much guaranteed to never drop to $0. Of course any commodity of broad utlility has this property. Arguably gold, being affected by speculation and store of value factors, is worse for this than wheat or tin.
tl;dr: the old joke about stockpiling ammo for spending after the apocalypse is actually kinda wise
- me_me_me 5y agoIf someone mined 1000t pure gold asteroid and brought it to earth, Your gold bar would be worth less than paperweight. Sure it would be worth more than $0 but your $600k gold bar being worth $5 is hardly an argument you are trying to make. If the world would end your gold investments are as good as a story you can tell about your investment portfolio and a mountain of gold you own in Peru. The hearsay of BTC having a value is similar to $$$, but nobody is loosing their mind that 'dollars are just a pieces of cloth paper, man'.
- gruez 5y ago>Gold has uses. Even if every gold bug in the world lost faith, and we developed a strong cultural aversion to yellow shades, gold would continue to be consumed. Its price is pretty much guaranteed to never drop to $0. I don't get this argument. If you're worried about the value in case of economic collapse, you really shouldn't be in gold or bitcoin. Sure, bitcoin would perform worse than gold, but both would perform worse than copper. Why would you invest in gold then?