Quote from: BlackHatCoiner on Today at 04:57:19 PM

Quote from: NeuroticFish on Today at 04:48:56 PM

The price of gold has nothing to do with its usefulness, it's more related to the hoarding of gold by banks, states, ...

What he's telling you is that the price of gold and its usefulness are implicitly connected. Yes, the price isn't directly related with it, it's a matter of supply and demand. But, if it wasn't useful, why would it be demanded? People evaluate goods by their utility. If they all had the properties of a store of value asset, they could also be used similarly by the belief that they will be used essentially in the future.

Gold does have these properties and is, thus, stored with the conviction that someone will use it to either create jewelry or experiment with it in chemistry, or use it into electronics etc.

Sorry, I disagree. I think that the price and the hoarding are more related to the (perceived) scarcity than usefulness.
And that's what I try to express, but maybe I'm failing to do that, or maybe I'm wrong. I guess that we have to agree that we disagree on this and just move on Wink

Thanks for the attempt to clear it up though. Wink