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Every asset would lose most of its value if it couldn't be exchanged for fiat. From gold to Google stocks. The intrinsic value of gold is negligible in comparis
by walkhour 4y ago
Every asset would lose most of its value if it couldn't be exchanged for fiat. From gold to Google stocks. The intrinsic value of gold is negligible in comparison to its actual value. It would just be another rock.
- ChuckNorris89 4y agoExcept gold is not just a means of financial speculation, but it's also a precious metal highly sought after for it's uses in the electronics, medical, semiconductor, aerospace and other industries due to its very good electrical and thermal properties. Bitcoin on the other hand, if you were to remove its capability for financial speculation, then it would serve no other purpose and would just be some useless bits of data, just like NFTs.
- walkhour 4y agoNote I acknowledge this in my previous comment by saying gold has intrinsic value. My point is that gold would still lose most of its value, since there's a highly speculative component to it.
- ChuckNorris89 4y agoAgreed.