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It's really good for analog HiFi cabling. Plus it's sparkly.
by cwp 14y ago
It's really good for analog HiFi cabling. Plus it's sparkly.
- zanny 14y agoBut that intrinsic value is like saying you can save 10% of your valuation if the market drops gold for its scarcity, whereas with btc you lose 100%. Any way you slice it, you have lost an overwhelming supermajority of your value, and are fucked. Gold is almost never used for its practical use cases because everyone treats it as money and use its scarcity for trade. I hate that facet, because it ruins a perfectly good metal with practical applications that we could be taking advantage of industrially if there wasn't this artificial "hoard gold because its valuable for how rare it is" economic mess. But if the economy fell out and gold stopped being traded as a store of wealth and started being traded as an industrial metal, the guy with all his assets in gold is still devastated.
- lukeschlather 14y agoPersonally I'm all for fiat currency, but on the spectrum I'd rank gold ahead of Bitcoin as a value store. (Also copper, steel, and other useful metals.)