Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Strawman much?
First off, I originally specifically said "Gold's monetary utility is also easily replaceable.", already taking into account that gold has other utility than just the monetary one.
Secondly, I was talking about the concept of intrinsic value in general.
First off, I originally specifically said "Gold's monetary utility is also easily replaceable.", already taking into account that gold has other utility than just the monetary one.
Secondly, I was talking about the concept of intrinsic value in general.
Firstly, I said that bitcoin would be far worse to use as gold as an monetary asset, because it has no intrinsic value, and that creates more instability. Now when you are telling that intrinsic value doesn't exist, then you are either trolling me or just confused
Intrinsic value is based on the important needs of society. Electronics is a very important need in today's society. Telling that intrinsic value of gold is bullshit, is saying that we could very well live without electronics. Yeah you could. There are plenty of people living like that in PNG, go visit them and see how well their economy is doing Please don't try to provoke needless arguments with me. While talking with markj113, I really felt good that I'm talking to someone who isn't a religious fiend. Please don't ruin this experience for me
Bad intentions bring out the worse in me This shows the power of gold as a monetary asset.
This is my Double gold Doubloon from Spain's King Phillip II's rein in the 1500's.
It still has purchase power 500 years later due the gold content.
Nice pieces, but aren't their historical value higher then the value of their gold content?