2 ms·
> “the value would be mostly erased” implies that the price goes down to 0 No, it means the value would be much much closer to 0 than it is now. That’s why I s
by dartos 2y ago
> “the value would be mostly erased” implies that the price goes down to 0
No, it means the value would be much much closer to 0 than it is now. That’s why I said “mostly erased” and not “entirely erased”
> Gold wouldnt survive your doomsday scenario either
Yes it would… if the internet goes down, gold will still “survive.”
It’s not going anywhere…
> if youre going that far to find the fault in bitcoin then you will also have to concede that your gold is just going to be a metal
“a metal” has inherent value as a material. A record in a digital ledger does not…
> worthless in a scenario where guns and bullets mean holding power, no matter how pretty it looks or which technologies depend on it.
You say that, but historically gold was valuable even though technology didn’t depend on it and even though guns existed. Even before that, actually.
It’s strange that I need to explain that…
- rikafurude21 2y agoinherent value as a material assuming there is a market to sell it at, no? We were talking about your doomsday scenarios, no internet and all, which means there wont be a market. So yes, even if it "survives", its just a metal. No inherent value except maybe when civilization is rebuilt we can use it to make technology. Historically gold was valuable because it was somewhat rare and you could barter with it.
- dartos 2y ago> no internet and all, which means there wont be a market Please tell me that you know that markets have existed and exist without the internet. In those markets, gold is and was valued… > Historically gold was valuable because it was somewhat rare and you could barter with it. Historically and currently. The existence of the internet doesn’t change that…