Re:Is This the End of Crypto?
by w1nst0nsm1th on Thursday November 17, 2022 @02:44PM
(#33644508)
Oil (and gas) are specific cases, not relatable to gold...
The point with oil is its extraction can't be stoped overnight, and thus has to be stored in case of excessive production, which has itself a cost.
Demand droped significantly when the lockdown occured ; storage facilities where saturated ; and oil was kept in oil tankers which are pretty expensive.
The point with oil is its extraction can't be stoped overnight, and thus has to be stored in case of excessive production, which has itself a cost.
Demand droped significantly when the lockdown occured ; storage facilities where saturated ; and oil was kept in oil tankers which are pretty expensive.
The negative price reflected the cost of storage.
There is no such issue with gold.