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A comment on Someone just made a $147,239,214 Bitcoin transfer. Parent comment

Re:Someone just made a $147,239,214 Bitcoin transfer by patrickg_zill on Friday November 22, 2013 @08:41PM (#6784837)
Just as people say, "the market can act crazy, longer than you can remain solvent" about trading stocks on Wall Street, so I would point out that gold's value "as money" has been around a lot longer than even the lifetime of Methuselah.

People have been using gold in some form for thousands of years - I don't see that changing anytime soon.

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Re:Someone just made a $147,239,214 Bitcoin transfer by mike_esspe on Friday November 22, 2013 @10:24PM (#6785053)
People used silver for a long time too, but it was demonetized in 20th century.

http://www.dailyreckoning.com.au/silver-a-brief-history-of-d...

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Re:Someone just made a $147,239,214 Bitcoin transfer by patrickg_zill on Saturday November 23, 2013 @01:11AM (#6785438)
People still buy silver as an investment, I hesitate to say "as money" ; although I told in Mexico you can buy and sell silver in many banks (I don't know the details however).

In the USA, gold was demonetized (1933) before silver (1965) in the currency when used in the USA. The dollar was convertible into gold internationally however.

The international gold window was closed by Nixon in 1971.

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