Re:Three Arrows Capital reportedly facing insolvency
by adra on Friday June 17, 2022 @07:16PM
(#31785696)
To be sure, crypto has a cost to maintain its stable state/value in storage, compute, power. gold does have intrinsic value, but clearly the value has been over-represented by speculation long term. Conflating gold as intrinsic value is just as deluded as crypto. In the most disastrous outcome, gold will still be worth what people value wearing it around their necks. Crypto will only have value until all participants pull the plug on once the liability to maintain it outstrips it's potential returns.
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Re:Three Arrows Capital reportedly facing insolvency
by datadata on Friday June 17, 2022 @08:24PM
(#31786179)
The cost to store crypto is quite negliable compared to the cost to store gold.
Easy to hide a billion dollars of bitcoin on a USB stick for 10 years. Good luck storing a billion dollars of gold, you couldn't even physically move it by yourself.