4 ms·

>Unlike gold (with metallic and useful properties) gold was useless for 99.5% of human history, until the advent of electronics

rscho 4y ago
Jewels?
- jtbayly 4y ago
  I 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 ago
Yes, but we have electronics now don't we. So it's useful.
onychomys 4y ago
It 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 ago
Gold 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 ago
  Exactly. 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 ago
    Jewellery 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.
- cryptoanon 4y ago
  This is a disingenuous argument because you pretend like gold has no downsides. The major, and very real downside of gold is that it's costly to store. The risk of confiscation is high unless you protect yourself with weapons. (And, in that case, doesn't that make weapons more valuable?)
  - jjav 4y ago
    > The risk of confiscation is high If that's your worry (and not that you shouldn't), consider that the risk of confiscation of your bank balance or stock accounts is far higher given that those are merely entries in a database held by a third party.
  - gonzo41 4y ago
    I'm not saying that gold is magic, I'm just pointing out it has utility beyond it's value holding utility.
  - malfist 4y ago
    And historically, that was the case for all wealth stores, at least ones you could spend.
  - dragontamer 4y ago
    > The risk of confiscation is high I got a buddy with a bunch of money in Celsius right now, that feels like its been confiscated. Apparently, cryptocoins can also be "confiscated", and are unable to be sold during these times of duress.
- tshaddox 4y ago
  Does that explain why gold has been used to make coins and ingots, held in large reserves by governments, etc.? Surely the value of gold is and has for most of human history been much higher than what would be expected if it were merely a nice metal to make pretty jewelry with.
  - dragontamer 4y ago
    > Does that explain why gold has been used to make coins and ingots Over say, Iron? Yes. Because iron rusts. An iron-coin does not last forever. Copper, Silver, and Gold are easier to take care of, but even old copper/silver coins tarnish and corrode away with time. Gold does not. A gold coin made 100 years ago would be as brilliant today as it was back then... with minimal maintenance. There's a _REASON_ why gold was chosen, all across the world, from MesoAmerica, to Europe, to Asia, as a unit of currency.

rscho 4y ago

Jewels?

jtbayly 4y ago
I 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 ago

Yes, but we have electronics now don't we. So it's useful.

onychomys 4y ago

It 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 ago

Gold 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 ago
Exactly. 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 ago
  Jewellery 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.
cryptoanon 4y ago
This is a disingenuous argument because you pretend like gold has no downsides. The major, and very real downside of gold is that it's costly to store. The risk of confiscation is high unless you protect yourself with weapons. (And, in that case, doesn't that make weapons more valuable?)
- jjav 4y ago
  > The risk of confiscation is high If that's your worry (and not that you shouldn't), consider that the risk of confiscation of your bank balance or stock accounts is far higher given that those are merely entries in a database held by a third party.
- gonzo41 4y ago
  I'm not saying that gold is magic, I'm just pointing out it has utility beyond it's value holding utility.
- malfist 4y ago
  And historically, that was the case for all wealth stores, at least ones you could spend.
- dragontamer 4y ago
  > The risk of confiscation is high I got a buddy with a bunch of money in Celsius right now, that feels like its been confiscated. Apparently, cryptocoins can also be "confiscated", and are unable to be sold during these times of duress.
tshaddox 4y ago
Does that explain why gold has been used to make coins and ingots, held in large reserves by governments, etc.? Surely the value of gold is and has for most of human history been much higher than what would be expected if it were merely a nice metal to make pretty jewelry with.
- dragontamer 4y ago
  > Does that explain why gold has been used to make coins and ingots Over say, Iron? Yes. Because iron rusts. An iron-coin does not last forever. Copper, Silver, and Gold are easier to take care of, but even old copper/silver coins tarnish and corrode away with time. Gold does not. A gold coin made 100 years ago would be as brilliant today as it was back then... with minimal maintenance. There's a _REASON_ why gold was chosen, all across the world, from MesoAmerica, to Europe, to Asia, as a unit of currency.