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So gold is ok because it's natural and BTC is not because its rareness is artificial? But in the year 2085 if BTC is still rare what does the natural vs artific
by andrewfromx 2y ago
So gold is ok because it's natural and BTC is not because its rareness is artificial? But in the year 2085 if BTC is still rare what does the natural vs artificial matter?
- ceejayoz 2y agoGold sucks as a backing for an economy (for similar reasons!), which is why everyone moved off it.
- andrewfromx 2y agobut surely Vanguard has funds with gold?
- Polizeiposaune 2y agoNot really. Jack Bogle (Vanguard's founder) saw little value in speculating on commodities. Vanguard used to a have a "Precious Metals and Mining Fund" but they renamed it to "Vanguard Global Capital Cycles Fund" and broadened its mandate/portfolio.
- zeroCalories 2y agoGold is better because it can be used(industrial applications, bling, etc). Value investors like Buffet still hate gold for the same reasons listed by vanguard.
- 1of21million_ 2y agoBitcoin isn't rare of expensive. It's nearly infinitely divisible. The fact that there are 21 million of them is arbitrary. There could be 21,000, 21, or 21 trillion, or and it would be the same. What you mean is that it's unevenly distributed. The first miners get the lion's share of the bitcoin. I guess you're counting on being early to the party? I was early too. I am one of the 21 million to have a bitcoin -- in fact I had more than ten. They have never been useful to me apart from helping me break laws. I'm glad to have gotten rid of them.
- DonHopkins 2y agoShill.