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As they should, Don't get my started on NFT's. I firmly believe crypto is useless. Unlike gold (with metallic and useful properties) or other floated currencie
by gonzo41 4y ago
As they should, Don't get my started on NFT's.
I firmly believe crypto is useless. Unlike gold (with metallic and useful properties) or other floated currencies that map back to an economy. Crypto essentially represents spent energy.
If crypto, esp BTC was able to be back converted into the energy used to produce it, that'd be great. But it can't so it's just a net negative IMO.
- throwaway0x7E6 4y ago>Unlike gold (with metallic and useful properties) gold was useless for 99.5% of human history, until the advent of electronics
- rscho 4y agoJewels?
- jtbayly 4y agoI think you mean jewelry, which is what I was going to mention. (Jewels being the pretty rocks that get set in the gold.)
- gonzo41 4y agoYes, but we have electronics now don't we. So it's useful.
- onychomys 4y agoIt may not have been useful, but people from all time periods and all corners of the globe agree that it sure is pretty. That appeal counts for something.
- dragontamer 4y agoGold was a corrosion free metal that held it's shape with jewelers. Even Silver corrodes. Gold never corrodes. It's excessively stable, malleable, and perfect for art pieces. Since Gold is excessively stable, there are no worries about rashes or itchiness if you wear it all day. In an age before modern plastics, that is basically miraculous.
- trompetenaccoun 4y agoExactly. Gold still has these properties btw ;) If people don't understand stone age economics and why gold was seen as valuable even before modern electronics, oh boy... How do they make sense of more modern concepts? We often discuss a lack of education, especially in terms of science and technology. The situation regarding economics education is so dire most aren't even aware there is an issue.
- throwaway0x7E6 4y ago>jewelry >art pieces yeah, so exactly like I said, it was pretty much useless >In an age before modern plastics, that is basically miraculous. have you heard about glass?
- virtualritz 4y agoJewellery is a store of value with additional attached utility. Have you ever worked with glass vs gold? Dropped a piece of art(isanal good) made of glass and see it shatter and one made of gold and not much happening to it? That's just two of dozens of reasons why your comparison makes no sense.
- throwaway0x7E6 4y ago>Jewellery is a store of value with additional attached utility. we're in the bi-hourly crypto hate thread. the threshold for being useful is set to "is it necessary for basic survival?". "a store of value with additional attached utility" doesn't make the cut, and must be banned to atone for our carbon sins >Have you ever worked with glass vs gold? the post above compares gold to plastics
- dragontamer 4y ago> the post above compares gold to plastics No one wears glass all day. My Nylon strap for my watch is pleasant and cheap. But the very material itself didn't exist before the 1930s IIRC. If we're talking about materials that existed even in 2000BCE, gold is one of those metals that you could wear all the time, and never get a rash, allergic reaction, or otherwise get itchy. -------- Glass isn't flexible or malleable. Even if we use fiberglass today, its a carcinogen and very bad for the human body. Certainly not a material you want to be wearing all the time.
- deleted 4y ago[deleted]
- eurasiantiger 4y ago>Crypto essentially represents spent energy All traded goods and services essentially represent spent energy.
- bentcorner 4y agoSure, but you can't eat a hash.
- otikik 4y agoYou can eat an apple. And plant its seeds. It is spent energy, but it has intrinsic value. Crypto is only valuable if you can find a bigger fool, and you are not the one holding the proverbial hot potato.