News for hackers. Stuff that matters.

A comment on I, Token: The untold story of the hole in Bitcoin's heart. Parent comment

Re:I, Token: The untold story of the hole in Bitcoin's heart by jrm4 on Saturday July 31, 2021 @10:19PM (#28023224)
Not electronics, historically, obviously. But this is important.

Gold became "gold" not because it was "useful" -- but almost precisely because it "wasn't." It was shiny, pretty, and scarce, and also NOT GOOD for tools. Its rise as a symbolic store of value is likely directly attributable to its lack of intrinsic value.

[ Parent | on HN ]
Re:I, Token: The untold story of the hole in Bitcoin's heart by dsr_ on Sunday August 01, 2021 @07:01PM (#28031036)
Iron pyrite is also shiny and pretty, and if it's not as rare as gold, it's still very pretty.

But nobody used iron pyrite for jewelry, much, because it's neither malleable nor ductile -- properties which make gold useful for wire and leaf, and later turn out to be important for electronics, too.

[ Parent | on HN ]