Re:.01% of Bitcoin holders hold 27% of all Bitcoin
by tomputer on Saturday May 21, 2022 @05:06PM
(#31461806)
Bitcoin is more like holding a piece of gold. If all gold exchanges are closed you can still trade your gold with someone in person. You don’t get your money without ever selling your piece of gold to someone else.
[ Parent
| on HN ]
Re:.01% of Bitcoin holders hold 27% of all Bitcoin
by FabHK on Saturday May 21, 2022 @06:32PM
(#31462654)
You can also make jewellery and tooth fillings and platings for electric contacts with gold. Not with crypto.
Re:.01% of Bitcoin holders hold 27% of all Bitcoin
by mlyle on Saturday May 21, 2022 @07:36PM
(#31463263)
> You can also make jewellery and tooth fillings and platings for electric contacts with gold. Not with crypto.
Most of gold's value is because it's perceived as valuable. The industrial uses, etc, are small. Jewelry is a way to flaunt this value as ornamentation.
Re:.01% of Bitcoin holders hold 27% of all Bitcoin
by tomputer on Sunday May 22, 2022 @04:17AM
(#31466009)
The parent post was about trading/selling crypto for money without exchanges. Gold has indeed some other use cases.
It is however not possible to send physical gold over the internet. Gold is also difficult to verify. You'll probably need to rely on a broker/shop and their tools to test if it's real. Bitcoin is relatively easy to verify with software anyone can download for free.