trey on Nostr: "Gold is used in jewelry and electronics, so it has intrinsic value." This is a ...

"Gold is used in jewelry and electronics, so it has intrinsic value."

This is a terrible argument for gold as competition for bitcoin.

Firstly, value is subjective and intrinsic value doesn't exist.

Secondly, using gold for non-monetary uses devalues it as a money.

Money is not meant to be consumed. Its purpose is to store value and exchange it for consumables or investments in the future.