Gold has no intrinsic value EITHER. The value of anything is what other people agree it is. Can you eat gold? no. Can you use it to hide from rain? No. What can it do? Just be heavy and shiny. But then again, lots of things are heavy and shiny.
Gold has no intrinsic value, just like paper has no intrinsic value. Gold, like paper, is only valuable as a medium of exchange. You take it, because you know you can give it to someone else who will ALSO take it.
You silly people and your gold obsession.
Hahaha your silly if that's the only thing u got out of this extensive post!
Also gold has MANY important uses. All the electronics we use require gold. Technology in general requires gold and gold has many healing qualities.
There is also a reason all the most powerful people in the world for thousands of years surrounded them selfs with it.
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Humanity has a gigantic demand for the ability to carry money around with them and in a broader sense conduct trade with very little friction. This demand is what gives intrinsic value to many precious metals, because they are difficult to counterfeit and the value is actually stored locally instead of needing to trust a third party.
Likewise, blockchain technology also has intrinsic value because it accomplishes the same goals even faster, cheaper and more reliably than precious metals. The technology itself is valuable, but the individual currencies are only valuable because of winning competition for customers.
I agree that gold is liked too much. There are astroids in orbit that contain more gold than all the gold mined and mining scouts are already being built. "No intrinsic value" should not be a negative concept in the first place. It can mean it has no "natural" value, or that its value relies on some other thing being true. Either its bad because its 'unnatural', or it is bad because if someone were stranded alone on an island with it they would not have a use for it.
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If someone were stranded on an island cryptocurrency nor cash would be of any value either! So thats a horrible example. Otherwise everyone should ONLY BUY AND CARRY things that can be used on an island when stranded.....hahahahaha though I like that...Would be great to see people only having things that are valuable to actually survival VS the accumulation of STUFF.
HAHHAHAHAHAHHAHAHAHAHAHAH
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