[r3trohack3r]

> equivalent investment vehicles

This is borderline arguing in bad faith. You’ll need to demonstrate a good faith argument to continue this conversation.

All value is psychological. Money is a behavioral coordination system. Believing gold has an intrinsic value that justifies trading at $1.8k an oz is sufficient for gold to trade at that value - regardless of gold’s real utility to any holder of gold. It’s the belief that drives the value.

Every single thing you hold that you believe has value either: 1) has direct value to you or 2) can be traded for something that has direct value to you

History is full of people who mistakenly believed their wealth was far more “real” than it was.

[gitfan86]

You are right that psychological value is all that matters, you just need to take your logic one step further.

When the Dole company buys a banana plantation, it is because they believe that consumers will want to buy bananas in the future. That future may or may not become "real". This is where your logic ends. You have proven that perceived value is all that matters and have stopped.

You need to understand that a year later millions of bananas will be ready to harvest. And grocery stores will be placing or not placing orders to have those bananas delivered. So that perceived value is now hitting reality. The crypto people have done a pretty good job kicking the can down the road and avoiding reality hitting their perceived value, but it is hard to keep that up forever.

[chowchowchow]

What, seriously, what are you talking about with the bad faith? We’re responding to your comment which said baseball cards and stocks worked the same way.

It’s bad faith to point out how wrong what you said was? Sorry about that, guess we can’t talk anymore.