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RE: Erik Voorhees on "Is Bitcoin the Future of Money?"

in #bitcoin5 years ago

If nobody believes Gold is worth something than it has no value, intrinsic or not. Same for anything.


I’m team bitcoin
But gold will always be valuable.
I don’t understand the argument it’s one or the other. Gold isn’t going away

You are wrong Yonny along with everyone in here that thinks that Gold or Silver has no real value.

1.) Gold has medicinal value just like Silver. All surgeon instruments are made of silver because silver kills all bacteria. There are many other medicinal uses for gold and silver too.
2.) Gold and silver are also very useful in the electronic world. Without Gold and Silver you wouldn't have that computer, internet and all those high end electronic items like your cell phone.

You’re missing the point. I never said gold doesn’t have value. Read it again carefully.

Garlic has medicinal value as well. Is that the standard we are using for currency?

Sure but I wouldn't pay you anything because I grow my own garlic. I can also get garlic from my friends yard and in the grocery store. Just because it has medicinal value doesn't mean it is good for currency. A currency has to be rare and difficult to attain too.

Gold and silver are rare metals and are not easily mined. They also have medicinal value and other uses in electronics along with other techno uses. So they are a better form of currency and has real useful value.

true indeed. im seeing the same sentiment from the masses, "gold is worthless...its
only valuable because its only so much of it"...

Gold is not worth investing in as a store of value because its utility value is dependent on the economy being strong as do all utility metals. When the economy is weak and a store of value is required the utility value of the gold falls meaning that all you get is a flush of volatility and a stabling out. this could be higher or LOWER than when the economy was doing well. A gold investment is a straight up gamble. You would be better investing in patents which not only have utility but a store of value .....assuming you have done your research well.

The world and its relationship with gold is very different to pre-1974.

Very great argument, with a nice background for video.

Incorrect, gold is used in electronics as a conductor of electricity.

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