Re:CBOE Will Start Bitcoin Futures Trading on December 10
by IkmoIkmo on Monday December 04, 2017 @01:16PM
(#15846080)
That may have been true a long time ago, but I highly doubt we'll be buying each other gold rings if they cost 50 cents in material like a plastic ring, or some shiny colored cheap metal ring, or any other easily malleable cheap and abundant material available today.
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Re:CBOE Will Start Bitcoin Futures Trading on December 10
by wpietri on Monday December 04, 2017 @02:54PM
(#15846854)
Price is a balance between supply and demand. Gold's price is high because there is a lot of demand for use in jewelry and industry. Its monetary value isn't some intrinsic or historical fluke. The monetary value is underwritten by its utility.