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Why does gold have a non zero floor price and not Bitcoin ? Is it merely because Gold has industrial uses ? That floor would be far lower than Golds current pr
by thewarrior 5y ago
Why does gold have a non zero floor price and not Bitcoin ? Is it merely because Gold has industrial uses ? That floor would be far lower than Golds current price.
- worik 5y agoGold has important uses in industry Gold has important uses in jewellery Gold has a natural scarcity, is easy to store, hard to steal. Crypto has no natural scarcity (other than a reluctance to waste energy), is very hard to store and relatedly is very easy to steal.
- ineptech 5y agoYes. Gold has both speculative value (you can sell it for more than you bought it for) and intrinsic value (you can use it for stuff). A bitcoin has speculative value only, as far as I can tell. Whether the same is true of crypto generally (including defi and daos and so forth) is open for discussion and one of the things being argued over in this thread.