Quote from: OTR on August 24, 2018, 03:03:04 PM

Gold is useful if you want a conductor that doesn't tarnish over time. It's price is probably dominated by jewellery/cost of extraction. It's value is most likely sentimental, if not downright mystical.

I personally think it's a bad investment choice. I think Bitcoin (and cryptocurrencies in general) are forcing a dialogue that's making people consider what value is and how it's applied. I don't think Gold will make the cut when we shift paradigms.

Gold has its place. But I don't see much use for it beyond what you can easily and legally take across borders. It may serve some purpose in small amounts but as an investment bitcoin has so many more advantages. Bitcoin is internet reliant so large scale internet disruption / solar flare / large EMP is its nemesis.

Gold and silver could have some use as a payment system in case of serious disasters. But in such cases I think practical items like food, basic tools, firearms, fuel, usable transport, safe accommodation and the ability to generate electricity are going to be the major currency.

The countries and organisations that own the most gold are:

Netherlands: 612.5 tons
Japan: 765.2 tons
Switzerland: 1,040 tons
Russia: 1,778.9 tons
China: 1,842.6 tons
France: 2,435.9 tons
Italy: 2,451 tons
International monetary fund 2,814 tons
Germany: 3,373 tons
United States: 8,133.5 tons

Source: https://www.msn.com/en-us/money/markets/this-is-who-owns-most-of-the-worlds-gold/ss-BBGmtjN