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A comment on Ending Bitcoin Support. Parent comment

Re:Ending Bitcoin Support by Aunche on Tuesday January 23, 2018 @08:36PM (#16219614)
My point is that gold can never lose 90% of its value because the majority of it is already used in luxury items and electronics. At worst, the total value of gold can only drop by the current amount that is being held in reserve or as investments.
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Re:Ending Bitcoin Support by bryanlarsen on Tuesday January 23, 2018 @10:29PM (#16220085)
Price is set at the margin. If half the demand for gold evaporated the price for gold would likely drop a lot more than 50%, probably more than 90%. When demand for gasoline went up by 2%, the price doubled.
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Re:Ending Bitcoin Support by hollerith on Wednesday January 24, 2018 @01:41PM (#16225131)
>the current amount that is being held in reserve or as investments

--which is almost all of the gold in the world.

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