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A comment on The Wealthy Are Hoarding $10B of Bitcoin in Bunkers. Parent comment
Gold's utility as jewelry stems from its high value as a precious metal.
It's circular reasoning though, since we're also saying that it's high value is underpinned by its use as jewelry.
E.g. the Incas used gold for jewelry despite it being fairly abundant.
Gold's utility as jewelry stems from its high value as a precious metal.
It's circular reasoning though, since we're also saying that it's high value is underpinned by its use as jewelry.