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A comment on Bitcoin Drops Below $8,000 as Cryptocurrency Pain Continues. Parent comment

Re:Bitcoin Drops Below $8,000 as Cryptocurrency Pain Continues by cglace on Friday February 02, 2018 @09:56AM (#16290923)
Gold has a myriad of uses outside of it being a heavy rock. If it's price were to drop substantially it's use in industry would increase substantially and we know what happens to price when demand increases.
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Re:Bitcoin Drops Below $8,000 as Cryptocurrency Pain Continues by soneil on Friday February 02, 2018 @10:10AM (#16291080)
I don’t think industry is the floor you think it is. They’ll happily pay as little as they can for it.

I think the more honest measure is simply how many people have faith in it. Bitcoin and gold may be logically equivalent for this function, but a lot more people have a lot more faith in gold.

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Re:Bitcoin Drops Below $8,000 as Cryptocurrency Pain Continues by cglace on Friday February 02, 2018 @12:10PM (#16292168)
Anyone will happily pay as little as possible for anything. I don't see your point.
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