f0xr on Nostr: "Intrinsic value doesn't exist." Goldbugs have cost themselves billions by failing to ...
"Intrinsic value doesn't exist." Goldbugs have cost themselves billions by failing to comprehend that simple fact. The obvious natural Bitcoin early adopters let themselves be cucked by Peter Schiff. Oh well, NMP. HFSP
"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.
Published at
2024-04-10 12:25:45Event JSON
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