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A comment on Coinbase S-1. Parent comment

Re:Coinbase S-1 by trident5000 on Thursday February 25, 2021 @12:07PM (#26265098)
Jewelry is just an extension of speculating on the metal. You can make a necklace out of many materials and it will function the same.

Cobalt is used more in electronics than gold. The MC is not close to the same. Almost 100% of golds value is from speculation.

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Re:Coinbase S-1 by tomjakubowski on Thursday February 25, 2021 @12:13PM (#26265163)
> You can make a necklace out of many materials and it will function the same.

How so? Jewelry's function is to look a certain way.

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Re:Coinbase S-1 by trident5000 on Thursday February 25, 2021 @12:24PM (#26265332)
I can make a necklace look almost exactly like gold but out of another material. The slight difference in subjective aesthetics does not justify a 1000x+ price increase. Its expensive because its a speculation.
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Re:Coinbase S-1 by Aunche on Thursday February 25, 2021 @01:58PM (#26266656)
Cobalt is also thousands of times of abundant than gold...

https://en.wikipedia.org/wiki/Abundance_of_elements_in_Earth...

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