Post
Topic
Board Economics
Re: Why do older people like investing in Gold/Silver?
by
1Referee
on 14/07/2018, 11:44:33 UTC
Because the less metal or some other substance exists on Earth, the more valuable it is. It's never change

The problem is that no one knows how much Gold there is locked away that has already been minted, and no one knows how much Gold there is left to mint. It might very well be that there is 100x more Gold to mint than what is known today. Just because something seems to be scarce, it doesn't necessarily have to be that. I don't buy into uncertainty and something that isn't transparent, and has very little day to day utility.

Bitcoin is completely transparent and for that reason it's impossible to hide supply. If there are 17.15 million Bitcoins in circulation, then there are really that many coins in circulation. It's factual information that is absolute in every way, which is something that Gold won't ever be able to offer. People need to let go of their ancient habits and ways of thinking.