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The majority of gold usage is in investment/central bank reserve. Technology applications are a fraction of the usage. Jewelry is a major usage, however part of
by scottiebarnes 3y ago
The majority of gold usage is in investment/central bank reserve. Technology applications are a fraction of the usage. Jewelry is a major usage, however part of the reason for its use in jewelry is a hybrid combination of its store of value properties (ex. in Indian culture afaik, gold jewelry plays a large part in passing down wealth, families gift gold jewelry at weddings etc.).
So you consume bitcoin the same way a central bank consumes gold: by sitting on it, selling it when you need to, or buying more in times of expected turmoil.
Bitcoin is far younger than gold (12 years vs thousands), so its obviously more volatile.
https://www.statista.com/statistics/299609/gold-demand-by-industry-sector-share/ https://www.statista.com/statistics/299609/gold-demand-by-in...
- mulmen 3y agoTrading something doesn’t consume it. That’s a very confusing overloading of terminology.
- scottiebarnes 3y agoWell consumer comes from the base word consume, which by definition includes the buying of a good or service, which is essentially a trade. Consume: - eat, drink, or ingest (food or drink). - buy (goods or services). - use up (a resource). - (especially of a fire) completely destroy. - (of a feeling) absorb all of the attention and energy of (someone).
- deleted 3y ago[deleted]
- mulmen 3y agoI was asking an honest question but I don't like being trolled. Have a nice day.
- scottiebarnes 3y agoNot sure why you think you're being trolled. Have a good one.
- dcow 3y agoYou’re not bing trolled? Wat.
- skinnymuch 3y agoHow would you be trolled? You asked and you got answered. What are you disagreeing with?
- mulmen 3y agoNone of these responses answer the question.