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Gold's value is mostly disconnected from it's utility. We've just decided it's valuable for a longer period of time so less people question it.
by sapphicsnail 3y ago
Gold's value is mostly disconnected from it's utility. We've just decided it's valuable for a longer period of time so less people question it.
- tempestn 3y agoThe time period is part of it, but I think the physicality matters too. You can debate gold's inherent value as you can with bitcoin, but you can't argue that it's not even a thing that exists. You also can't create more of it - which some would argue you can't with bitcoin either, but all it would take is consensus. Plus one could argue that other coins are equivalent goods.