"Gold is used in jewelry and electronics, so it has intrinsic value."
This is a terrible argument for gold as competition for bitcoin.
Firstly, value is subjective and intrinsic value doesn't exist.
Secondly, using gold for non-monetary uses devalues it as a money.
Money is not meant to be consumed. Its purpose is to store value and exchange it for consumables or investments in the future.
trey / Trey
npub1m6…ue2p9
2024-04-10 12:18:01
Author Public Key
npub1m6y9qq06c74trgs60ya320pgmhz6099grra5lw04akyuxvcz7lvq9ue2p9Published at
2024-04-10 12:18:01Event JSON
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"pubkey": "de885001fac7aab1a21a793b153c28ddc5a794a818fb4fb9f5ed89c33302f7d8",
"created_at": 1712751481,
"kind": 1,
"tags": [],
"content": "\"Gold is used in jewelry and electronics, so it has intrinsic value.\"\n\nThis is a terrible argument for gold as competition for bitcoin.\n\nFirstly, value is subjective and intrinsic value doesn't exist.\n\nSecondly, using gold for non-monetary uses devalues it as a money.\n\nMoney is not meant to be consumed. Its purpose is to store value and exchange it for consumables or investments in the future.",
"sig": "659cb2d5be524b1052849da70dec83d6332fae57637029ffe359b828b7ea0461c3216603b5c6c49d4b19afbc40041d8d2d5f9211cf0bb6cb2c4e0ac6fb0e3847"
}