Former US SEC attorney: 'Get out of crypto platforms now'

Re:Former US SEC attorney: 'Get out of crypto platforms now' by anon-3988 on Tuesday June 20, 2023 @09:15PM (#36413107)

And? I am not advocating for gold either. Gold hinges on the fact that its yellow and nice to look at or whatever. It is entirely feasible for the world to be possessed by zeitgeist such that gold or anything yellow doesn't mean particularly much. This could happen, for example, if gold and diamonds can be manufactured artificially. What then?

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Re:Former US SEC attorney: 'Get out of crypto platforms now' by paulddraper on Tuesday June 20, 2023 @09:33PM (#36413253)

Then it wouldn't be worth as much and its 10,000+ year run would be over.

PS https://en.wikipedia.org/wiki/The_Rip_Van_Winkle_Caper

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Re:Former US SEC attorney: 'Get out of crypto platforms now' by TacticalCoder on Tuesday June 20, 2023 @09:59PM (#36413428)

Wait... Is it not that within our current understanding of physics gold can only be manufactured artificially from an already heavier metal? (which are already more expensive than gold I think).

I don't know the details but, basically, it's not because we can manufacture synthetic diamonds that we'll one day be able to manufacture non-radioactive synthetic gold.

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Re:Former US SEC attorney: 'Get out of crypto platforms now' by paulddraper on Wednesday June 21, 2023 @10:27AM (#36418878)

Gold can be created from heavier elements via fission or lighter elements via fusion.

Either way, there's no foreseeable way either would ever be cost -effective

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Re:Former US SEC attorney: 'Get out of crypto platforms now' by robobro on Tuesday June 20, 2023 @11:24PM (#36414011)

The value of gold is related to the amount of labor necessary to produce it as a commodity. Contrast with aluminum and iron -- because they are relatively plentiful, they take significantly less labor to produce as commodities.

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