And what percentage of gold's current value would be supported solely by it's industrial applications? A fraction of a percent? This hardly seems like an intrin

And what percentage of gold's current value would be supported solely by it's industrial applications? A fraction of a percent? This hardly seems like an intrinsic value argument - almost all of gold's real intrinsic value is that heavy elements are hard to produce and among them, it and silver have the best combination of scarcity and other properties to make them suitable for a physical implementation of a secure distributed account system. Likewise, paper also had great value as a physical implementation of a document storage system.