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How is it not useful for society if it’s worth $3300 an ounce? It’s a metal prized physical properties and it’s also used in industry.
by FollowingTheDao 1y ago
How is it not useful for society if it’s worth $3300 an ounce? It’s a metal prized physical properties and it’s also used in industry.
- baxtr 1y agoMy favorite LLM tells me that roughly 85% of the world’s gold is simply “lying around” in the sense of being held as jewelry, bars, coins, or reserves. In contrast, only about 15% of the gold is actively utilized in production or technological applications. So I'd say it's the same as having cash under your pillow.
- FollowingTheDao 1y agoIf it’s the same thing as cash under your pillow, and it’s useless, then give me all the cash under your pillow.
- baxtr 1y agoYes, exactly. That’s the idea! I give my cash to you, and, as exchange, I will own a (usually small) share of your company. Then you’ll hopefully be successful and my shares will raise. Good for you. Good for me. Good for society since you created jobs.