South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

Re:South Korean prosecutors say Do Kwon 'obviously on the ru... by lexapro on Monday September 19, 2022 @01:35PM (#32901383)

Central banks definitely don't own gold because it's such a useful commodity. Are central banks gold bugs?

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Re:South Korean prosecutors say Do Kwon 'obviously on the ru... by JumpCrisscross on Monday September 19, 2022 @01:40PM (#32901441)

> Central banks definitely don't own gold because it's such a useful commodity. Are central banks gold bugs?

Are central banks retail investors? Are they buying gold to "to free the world or whatever"? No [1]?

Gold and silver have deep precedence as money. This leads to them trading as haven assets, i.e. their price rises when financial conditions deteriorate. Bitcoin doesn't. It trades as a risk asset, i.e. its price falls when financial conditions deteriorate. This could change! But that's true of literally every thing traded.

[1] https://www.bis.org/publ/work906.pdf

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Re:South Korean prosecutors say Do Kwon 'obviously on the ru... by ipaddr on Monday September 19, 2022 @03:21PM (#32902703)

"Gold and silver have deep precedence as money"

Bitcoin has that rep as well.

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Re:South Korean prosecutors say Do Kwon 'obviously on the ru... by JumpCrisscross on Monday September 19, 2022 @03:32PM (#32902824)

> Bitcoin has that rep as well

No, it doesn’t. The evidence is crypto trading as a risk asset. People believe it could one day trade as a haven asset, but that hasn’t happened yet. Not close.

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Re:South Korean prosecutors say Do Kwon 'obviously on the ru... by tim333 on Monday September 19, 2022 @05:29PM (#32904286)

>Central banks definitely don't own gold because it's such a useful commodity

It's proving quite useful to Russia's central bank which is selling gold to China as many of its other reserves have been frozen.

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