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A comment on Tether price manipulation. Parent comment

Re:Tether price manipulation by chaostheory on Friday January 08, 2021 @11:49AM (#25686603)
Maybe they didn't have any intrinsic value in the past besides looking pretty but in the modern era both gold and silver have industrial uses. They are not just stores of value. One could also argue that both metals also had intrinsic value in the past since both metals were used in jewelry and various items to make them look good.
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Re:Tether price manipulation by freewilly1040 on Friday January 08, 2021 @12:16PM (#25686983)
The industrial usefulness is an irrelevant byproduct when considering gold and silver as an investment.

Put another way, if people lost faith in gold as an investment tomorrow, and the value fell to the economic value of the industrial use cases, investors in gold would be ruined.

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Re:Tether price manipulation by JohnJamesRambo on Saturday January 09, 2021 @07:56AM (#25699987)
I’ve never thought of it this way. I wonder what the price of gold and silver would be if they were strictly used for manufacturing and jewelry instead of speculation and store of value?
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Re:Tether price manipulation by chaostheory on Friday January 08, 2021 @12:25PM (#25687106)
It is not irrelevant if the price is based on anything else besides raw speculation. Gold and silver have always had utility outside of trading.
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