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A comment on Coinbase opens its crypto index fund to accredited U.S. investors. Parent comment

Re:Coinbase opens its crypto index fund to accredited U.S. i... by cptskippy on Wednesday June 13, 2018 @07:46AM (#17302172)
What if share of the S&P 500 were traded in a crypto currency rather than say dollars as they are today? Wouldn't that crypto currency have more intrinsic value than the dollar?

Not being tied to gold, the dollar only has value because "we say so".

I could see a world where stock exchanges trade in crypto currency <a> and other cryto currencies are pegged to <a> in some way.

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Re:Coinbase opens its crypto index fund to accredited U.S. i... by charlesdm on Wednesday June 13, 2018 @08:07AM (#17302286)
The dollar has (disproportionate) value because it's the currency for global commerce (i.e. oil and other commodities).

Gold however only has value because we believe it is a store of wealth, and we believe it has value.

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Re:Coinbase opens its crypto index fund to accredited U.S. i... by cptskippy on Wednesday June 13, 2018 @08:20AM (#17302351)
> The dollar has (disproportionate) value because it's the currency for global commerce

Right... and when OPEC says they'll only trade in OilyBoyCoins?

> Gold however only has value because we believe it is a store of wealth, and we believe it has value.

That use to be true but now it's used heavily in various industries like consumer electronics and demand has been pushing the value upward.

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Re:Coinbase opens its crypto index fund to accredited U.S. i... by charlesdm on Wednesday June 13, 2018 @08:21AM (#17302356)
On the second, do you have numbers on how much value comes from demand in consumer electronics? Afaik it is minimal, but I could be wrong.
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Re:Coinbase opens its crypto index fund to accredited U.S. i... by cptskippy on Wednesday June 13, 2018 @12:21PM (#17304512)
I don't but I understand that it is minimal but has been growing steadily year-on-year.

This seems to indicate that global demand out paces supply: https://www.gold.org/research/gold-demand-trends/gold-demand...

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Re:Coinbase opens its crypto index fund to accredited U.S. i... by arthurcolle on Wednesday June 13, 2018 @01:43PM (#17305359)
Whats the ticker for OilyBoyCoins?
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