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I like a few of the economists' short responses.
... see prior post ..
Question A (Gold vs. Currency)
S&M, I knew I could count on you for a thoughtful response.
As long as one can't easily substitute for gold, like for bitcoins, or create it out of thin air, like fiat money, gold will always be something special, especially to a woman.
So I warn you guys, do NOT try to palm off 'Bitcoin earrings' for Valentines Day and expect to get to 'play ball'!... unless they're made of real gold!
Last edited by PamelaIamela; 03-14-2018 at 05:33 PM..
There's a lot of shady behavior that's still involved with buying intangible nebulous currencies that exist only in a promise.
At least with Gold and Silver, you can physically hold it in you hand. Giza
Cryptocurrency scammers run off with more than $2 million after ditching their investors https://www.cnbc.com/2018/03/09/cryp...after-ico.html
Have to disagree on that one.... Gold has been around for thousands of years and is a legitimately RARE commodity. It has some industrial uses as well as jewelry. I'm not crazy about gold as an investment that is going to make you great amounts of money - it pays no interest for one thing - but as a storehouse of value - it's very good.
Gold is rare, and it does have industrial use, but that doesn't justify its price. Gold attracts buyers who buy in the belief that the value will go up, or that it will have value when society collapses or whatever. The reality is that gold is just a commodity, like tulip bulbs. It's old and rare, but so are diamonds and dinosaur bones. It's been used as a medium for currency in the past, but so have paper and shells.
S&M, I knew I could count on you for a thoughtful response.
As long as one can't easily substitute for gold, like for bitcoins, or create it out of thin air, like fiat money, gold will always be something special, especially to a woman.
So I warn you guys, do NOT try to palm off 'Bitcoin earrings' for Valentines Day and expect to get to 'play ball'!... unless they're made of real gold!
Bitcoin earrings?!?! Oh so you’re saying I’m worth half as much as I was 2 months ago? *slap*
Yes I agree that Bitcoin is similar to gold by using bitcoin we can purchase gold also but its not applicable in all countries so you wan to check and buy the gold using Bitcoin.
There are also a cap on the number of bitcoins that can eventually be mined. ...............
According to what law of nature? Bitcoin is computer generated. Its possible to computer generate an unlimited supply. You are depending upon the honesty of the fellow who invented it and the honor of all the hackers in the world. Not the very best gamble,
So far, gold can't be manufactured so the supply is limited to what Mother Nature provided. Gold has a lot of industrial uses as well as just being pretty, so there is real value there. Although my opinion is that it is overpriced due to speculators. And who knows; some explorer in Africa might discover a mountain of solid pure gold, thereby scuttling the value.
I wonder, who own these currencies and who control them...? Are they safe? (no currency is really but if there's value and use for let's say gold, which there is, it'll still have value even if it goes down. Not so with cryptocurrencies.
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