News for hackers. Stuff that matters.

A comment on Gold price rises above $2k for first time. Parent comment

Re:Gold price rises above $2k for first time by fredfoobar on Wednesday August 05, 2020 @04:40PM (#24065341)
ok, I don't see people lugging around a bunch of gold coins in their purses in the future. It doesn't make sense.

edit: I actually agree 100% on "You seem to be under the impression that only 'better' things exist. That is wrong."

Worse things will also exist, but won't be adopted by the majority.

[ Parent | on HN ]
Re:Gold price rises above $2k for first time by droffel on Wednesday August 05, 2020 @04:45PM (#24065399)
In terms of weight, gold is a bit more valuable than twenty dollar bills, pound for pound. And its density is much higher. In no sense would the average person be 'lugging around' a bunch of gold coins for day to day activities.

There are many (better) arguments against the readoption of a gold standard. This one doesn't hold its weight (heh).

[ Parent | on HN ]
Re:Gold price rises above $2k for first time by BMSmnqXAE4yfe1 on Thursday August 06, 2020 @07:02AM (#24069844)
It is much costlier to verify that a gold bar doesn't contain some lead than to verify that a $20 bill is authentic. That is why if you buy a gold bar and immediately sell it, you will lose 10-20% of its value.
[ Parent | on HN ]