Re:Bitcoin is not a store of value
by caf on Monday September 19, 2022 @08:57PM
(#32906293)
It doesn't matter about the US military, because the gold market doesn't have to prop up the US military - it gets that ride for free. The point isn't "who is cheaper" in some theoretical sense, it's that as a practical matter the nation of Bitcoinia is importing a large amount of electricity from the USD, RMB, EUR etc economies. This is equivalent in effect to what the gold market as a whole has to pay in storage/holding costs for physical gold. If physical gold holding costs were to rise substantially for some reason, that would significantly reduce the returns available from holding gold.
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