Post
Topic
Board Speculation
Re: Will Gold and Silver lose all its speculative value to Bitcoin?
by
seanneko
on 22/11/2013, 12:15:31 UTC
If you take the store of value element away from either, it will have a serious impact, except Bitcoin would be worthless and gold can still be used in the tangible world, as I said, to make jewelry, Donald Trump's condo, provide conductive elements inside electronic devices and can still act as a medium of exchange.  All Bitcoin has is it's ability to store value.  Without that, it's nothing.

Why would you want to make jewellry out of gold if gold were worthless? People make gold jewellry so they can wear their wealth. To show off how rich they are. "Look at me, I have a massive gold necklace!"

If gold had a value of zero and nobody wanted it, you might as well make a ring out of plastic instead. What's the difference?