Re:E*Trade Is Close to Launching Cryptocurrency Trading
by jnurmine on Saturday April 27, 2019 @03:29AM
(#19764327)
In a normal situation it would not make sense but:
> if the situation becomes so bad that government-issued money is worthless
If you are receiving a salary (!) in a non-gold currency, and have an effective method of converting that currency to drinking water, food, toilet paper, medicine, etc. then, even if it is a crisis, what do you need gold for?
And if the value of government-issued money has completely collapsed, chances are that things are so bad that you'll need things for your immediate survival. Also, as there won't be a central instance setting a commonly-agreed value of gold, it is up to each supply to set their own prices, so how would gold keep its value?
> if the situation becomes so bad that government-issued money is worthless
If you are receiving a salary (!) in a non-gold currency, and have an effective method of converting that currency to drinking water, food, toilet paper, medicine, etc. then, even if it is a crisis, what do you need gold for?
And if the value of government-issued money has completely collapsed, chances are that things are so bad that you'll need things for your immediate survival. Also, as there won't be a central instance setting a commonly-agreed value of gold, it is up to each supply to set their own prices, so how would gold keep its value?