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> "But once created, the bitcoin has no value other than in exchange, contrary to a gold coin." How is this true. Gold has no use to the average person. The on
by en4bz 13y ago
> "But once created, the bitcoin has no value other than in exchange, contrary to a gold coin."
How is this true. Gold has no use to the average person. The only real use for gold is in semi-conductors. Other than that gold derives its worth from the fact that is very scarce, like bitcoins.
- davidkellis 13y agoJewelry.
- ogreyonder 13y agoDoes that not prove his point? There is no functional requirement for gold in jewelry now that so many cheap stainless alloys exist. Why not make jewelry out of plastic? The answer is: we, as a species, value gold far beyond its usefulness as a metal. Do you remember the article posted earlier this year about how DeBeers literally invented the market for diamonds out of thin air? Before their campaign, diamonds were relatively cheap and not considered to be that special. Like the dollar, or Euro, or gold, or even Bitcoin, the value of something is set by those who desire it.
- pera 13y agoWell, some people appreciates jewelry because of the rare materials, some other people appreciates "difficult" numbers (like big prime numbers, a more accurate pi, or in this case hashes that starts with many 0's) :)