• Smaile@lemmy.ca
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    8 hours ago

    “industrial value” this is irreverent given is more used as a financial device for a few millennia, gold only recently became somewhat useful for electronics, not much else. “Gold being used as a currency is ascribing to it an artificial value.” see your not listening, i does have value because its being uses in trade for financial assets when people fail to meet fiat or fiat fails flat out and another medium of exchange is needed, often for larger transfer of assets, over the course of many years this is bound to show crazy increases in comparative value givein the time horizon. its not artificial, its a show of compounding failure of newer currency that try to replace it, the reason gold never fails is for the reasons iv already described, it cant be faked since its an element, its heavy and hard to casually steal and on average people are drawn to its look, historically its been liked to the metal of the sun, something many people of the past worshiped and something we still love as its one of the things that keep out planets alive and crops growing.

    for these reason it was naturally bacame the stockpile metal of value. btc and fiat will allways fail at some point because the things they attach to are fallable. gold is an element, it can’t fail.