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Gold is ductile and a good conductor. Outside of it's shiny / jewelry uses it's actually a useful metal. Crypto only consumes energy as a product of it's exist
by gonzo41 4y ago
Gold is ductile and a good conductor. Outside of it's shiny / jewelry uses it's actually a useful metal. Crypto only consumes energy as a product of it's existence.
- ogogmad 4y agoAnd when the mining stops, all its value vanishes. Value stored on jelly. Bitcoin has a runaway implosion mechanism built in, and no floor on its price except 0.
- gonzo41 4y agoI bet there's a lot of people who've bought bitcoin on leverage. Bitcoin may go to zero and it'll cost a lot of money on it's journey there.
- xyzzy4747 4y agoIf you owned all the gold in the world, you would have a hard time getting trillions of dollars out of it.
- gonzo41 4y agoI agree, it's value is also speculative. I'm just making the point that it can be useful in it's own fundamental self.
- dubswithus 4y agoIt's not important enough to justify the valuation. I believe that was GP's argument.