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General Discussion / Re: BitCoin Master Thread
« on: January 15, 2021, 12:33:30 PM »Comes down to this quote from the article:?s=21"No one talks about risk that gold could go to zero because it can’t — there's a floor in its price...But bitcoin, which has marginal intrinsic value, relies on the faith of its holders that it is worth more than nothing and that the technology is sound."https://t.co/4AhdVZy8vp
— Danielle DiMartino Booth (@DiMartinoBooth) January 15, 2021
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Comparisons to gold in this regard are baseless. No one ever talks about the risk that gold could go to zero because it simply can’t — there is a floor in its price, because it has physical properties that make it useful even outside of its primary function as a safe-haven asset.Although, I don't think for most people investing in Gold, it going to $10 (or whatever amount of value you want to ascribe to its physical properties (strictly physical properties. value as Jewelry can be argued is only there since Gold has been considered an asset)) isn't going to help them much more than BTC going to zero.