Quote from: Coinseeker on November 22, 2013, 12:17:57 PM

Quote from: seanneko on November 22, 2013, 12:15:31 PM

Quote from: Coinseeker on November 22, 2013, 12:11:51 PM

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?

Using gold as a conductive element or a base metal for designing anything, will always have some value. And its rarity will remain more valuable, than the next more common elements. Thus it's impossible for gold to have zero value or all other more common elements, would have to have a negative value.

Truth is, gold won't be of zero value unless someone mines an asteroid and floods the market, making it as common as beach sand. This has been true for thousands of years. So speaking on something that is not based in either today's or histories reality, is really pointless.

But those are nothing compared to all the gold in the world. Yes, gold will never be worth ZERO, but it can be worth a tiny amount. The current price of gold has absolutely nothing to do with either of those things. It's entirely to do with the mentality that gold is valuable because it's gold.

The market doesn't need to be flooded with supply for the value to fall, demand just needs to drop. And this is exactly what's been happening for the last year or so.