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> gold and the paper currency is printed on is only worth something because people think they are worth something Gold has value. It can be used by dentists.
by Ologn 13y ago
> gold and the paper currency is printed on is only worth something because people think they are worth something
Gold has value. It can be used by dentists. It can be used in electronics. It has been inherently valuable for millennia.
As I said, paper currency is too complex a topic to go into fully here. Unlike gold, it obviously is not inherently valuable. You can look at Weimar German marks, Confederate dollars etc. to see that. Or even a US 1978 dollar versus a US 2014 dollar, to some extent. People who think Bitcoins can be worth something because the dollar seems to have some value are going to learn a hard lesson.
- grlhgr420 13y agothe dollar's 'inherent' value is linked to the long term stability of the US regime, which has a lot more utility than dental fillings
- ericd 13y agoAnd it's backed by the faith in the US military to enforce US sovereignty and interests.
- deleted 13y ago[deleted]
- drewblaisdell 13y ago> Gold has value. It can be used by dentists. It can be used in electronics. It has been inherently valuable for millennia. This is a moot point. The value of gold is almost totally unrelated to its utility.