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> There's a reason precious metals like gold and silver have retained value for millennia Yeah, because gold and silver are good to use as money. They are fung
by doyoulikeworms 13y ago
> There's a reason precious metals like gold and silver have retained value for millennia
Yeah, because gold and silver are good to use as money. They are fungible, long lasting, easily identifiable, can be divided without losing total value.
Kinda like bitcoin, except it can be traded with anyone with a computer over the Internet.
- karmajunkie 13y agoUnlike bitcoin, however, they have the trust of most people on the planet. They can trade hands without electricity and connectivity. And people understand them, how they work as a proxy for value, and while they certainly have their drawbacks, they are mostly stable in value. Bitcoin has plenty of uses that gold and silver can't touch. But that doesn't make it a precious metal by any stretch.