Re:Coinbase is exploring the addition of new currencies
by XorNot on Sunday December 09, 2018 @09:14PM
(#18644696)
Gold enjoys a lot of fashionable demand. Which is very much why you shouldn't use it to store your money - because not enough is actually propping up that demand. It just has a longer historical inertia - if you want to see a future problem, depending on the mineralogical analysis of near earth asteroids we could be in for a long slow decline if it's abundant up there.
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Re:Coinbase is exploring the addition of new currencies
by TylerE on Sunday December 09, 2018 @09:17PM
(#18644712)
I'm not talking about it's use for fashion.
I'm talking about industrial usage - like the contacts on your CPU. Gold offers a unique combination of very high electrical conductivity and near-immunity to corrosion.
Re:Coinbase is exploring the addition of new currencies
by Kiro on Monday December 10, 2018 @02:41AM
(#18645978)
The industrial usage is still unrelated to the price. The amount needed is tiny so the high cost is not a factor.
Re:Coinbase is exploring the addition of new currencies
by arcticbull on Monday December 10, 2018 @10:44AM
(#18648643)
Except that they buy it at that price
Re:Coinbase is exploring the addition of new currencies
by Kiro on Monday December 10, 2018 @01:02PM
(#18649793)
Yes, but price doesn't matter since it's such tiny amounts. The gold price for each part is miniscule compared to other costs.
Re:Coinbase is exploring the addition of new currencies
by tim333 on Monday December 10, 2018 @11:06AM
(#18648830)
Gold has been more stable in real value that pretty much anything else over the last 6000 years. Land being the only comparable asset I can think of. Way more stable than paper or crypto money. You shouldn't store your wealth in it because it's kind of stable while income producing assets make money.