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To be sure, crypto has a cost to maintain its stable state/value in storage, compute, power. gold does have intrinsic value, but clearly the value has been over
by adra 4y ago
To be sure, crypto has a cost to maintain its stable state/value in storage, compute, power. gold does have intrinsic value, but clearly the value has been over-represented by speculation long term. Conflating gold as intrinsic value is just as deluded as crypto. In the most disastrous outcome, gold will still be worth what people value wearing it around their necks. Crypto will only have value until all participants pull the plug on once the liability to maintain it outstrips it's potential returns.
- datadata 4y agoThe cost to store crypto is quite negliable compared to the cost to store gold. Easy to hide a billion dollars of bitcoin on a USB stick for 10 years. Good luck storing a billion dollars of gold, you couldn't even physically move it by yourself.
- deleted 4y ago[deleted]
- gbronner 4y agoIntergenerational wealth transfer is far from assured. A billion dollars worth of cattle could die. Gold could be stolen. Bitcoin might be irrelevant. Wampum didn't do so well either
- datadata 4y agoSure, I was merely commenting on the cost to physically secure the asset. Necessary (to prevent theft) but not sufficient.