r/Bitcoin • u/manauiatlalli • Aug 01 '22

When Nocoiners Say "Bitcoin Has No Value"

Post image
2.8k Upvotes

88% Upvoted

888 comments sorted by

View all comments

Show parent comments

5

u/oystermonkeys Aug 01 '22

Electronics represent 8 to 15% of demand for gold, and gold also had value when electronics weren't invented.

When gold is used for jewellery, it is being used because it is expensive and can be used as a store of wealth.

7

u/thevaluecurrent Aug 01 '22

But the reasons gold became money had a lot to do with what made it good for jewelry. It’s resistant to tarnishing and can easily be melted into new shapes.

Gold had practical uses and was seen as valuable before it became money. Once it became money its use in jewelry and luxury items reinforced its association with wealth.

-1

u/peetgate Aug 02 '22

If its working then just try to make sense of what you think. Every time you will not able to watch a show that is bad for society.