Re:Bitcoin is a disaster
by baby on Thursday December 31, 2020 @06:02PM
(#25598230)
How often is it used for that use case? Does gold have a high value due to this? No. I would even say that we might see more use industrially if people weren’t inflating its price by using it as a store of value.
[ Parent
| on HN ]
37% of gold use in the US is for electronics.
Re:Bitcoin is a disaster
by knowaveragejoe on Thursday December 31, 2020 @06:37PM
(#25598594)
Unless I'm mistaken, this is showing gold used for anything but storage of value. So that number is misleading.
Stats that include gold used as a store of value show much different numbers. But as I said earlier, the price of gold was never inflated by industrial use, it’s the other way around. The good thing about bitcoin: you’re investing in something that won’t negatively impact real world use cases.
Re:Bitcoin is a disaster
by TheAnswerMan on Thursday December 31, 2020 @06:19PM
(#25598394)
> How often is it used for that use case?
100% of all cases. You just used gold to ask that question.
Most gold is not used for industrial purposes
Re:Bitcoin is a disaster
by NoodleIncident on Thursday December 31, 2020 @06:31PM
(#25598514)
Well, low reactivity is why it stays shiny, right? People like the shiny squishy heavy rocks