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by loceng 1960 days ago
Apples to oranges comparison: gold actually has a use, and its value is kept in check by that - it's tied to the physical world, to reality, and gold also wasn't/isn't an attempt to replace a transactional layer. I'm sure there are more differences that make it incomparable - certainly that pro-Bitcoiners will simply dismiss the differences saying they're unimportant, irrelevant.

Edit to add: qualitative comments rebutting my argument points would be greatly appreciated.
1 comments
gruez 1960 days ago
>Apples to oranges comparison: gold actually has a use, and its value is kept in check by that

Is it? According to one source[1], the overwhelming majority of the gold use is for speculation (investment/central banks) or quasi-speculation (jewelry).

[1] https://www.statista.com/statistics/299609/gold-demand-by-in...

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loceng 1959 days ago
If gold was dirt and had no fallback value, would it . Interestingly the marketing that gold is so valuable, more so diamonds, to artificially inflate its price mimics Bitcoin well. Bitcoin's also called a Ponzi-like scheme because in the end, if everyone in society adopts Bitcoin, it actually has no additional value to the last one stuck holding the bag - you've just transferred all wealth through a system that unnecessarily, unreasonably, transfers wealth weighted towards earlier adopters from later adopters.
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