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A comment on CBOE Will Start Bitcoin Futures Trading on December 10. Parent comment

Re:CBOE Will Start Bitcoin Futures Trading on December 10 by cloakandswagger on Monday December 04, 2017 @10:50AM (#15844736)
Gold isn't worth $1.2K per ounce because of its "non-financial use", and has been valued throughout human history for its scarcity. I'm fairly certain kings weren't making crowns from the stuff 500 years ago because of its conductive properties.
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Re:CBOE Will Start Bitcoin Futures Trading on December 10 by lucozade on Monday December 04, 2017 @11:49AM (#15845257)
Mostly they were using gold because it doesn't readily tarnish and it's relatively easy to work.

Scarcity was necessary, for sure. But definitely not sufficient.

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Re:CBOE Will Start Bitcoin Futures Trading on December 10 by kgwgk on Monday December 04, 2017 @11:58AM (#15845328)
But it was, in large part at least, because of its malleability. There were even scarcer materials that have never been used to make crowns.
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