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Do most people understand why gold has value?
1298 sats \ 18 comments \ @kepford 21 Jul AskSN
Been listening to TradFi people talk about and try to explain Bitcoin and it occurred to me. Do most people really understand gold?
You can't create it. You can't destroy it. It's supply is limited and takes energy to acquire. It can be validated. It's fungible. It's fairly salable.
Do people get any of that? Or is it what I think. People think it's value is jewelry.
Yes18.8%
Nope81.3%
32 votes \ poll ended
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85 sats \ 1 reply \ @Scoresby 21 Jul
You can't create it.
(#1048905)
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102 sats \ 0 replies \ @kepford OP 22 Jul
Claims. I'll believe it when we see it.
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76 sats \ 1 reply \ @Undisciplined 21 Jul
Generally, I don't need to know what the last part of a "Do people understand ______?" question is, to think the answer's probably "no".
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21 sats \ 0 replies \ @kepford OP 22 Jul
Ha! True
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69 sats \ 0 replies \ @Signal312 21 Jul
No, they really don't.
People do not understand that it's SCARCITY that gives gold it's value.
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76 sats \ 0 replies \ @OT 22 Jul
Probably most understand that it's rare and shiny. Probably not much else.
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3 sats \ 0 replies \ @ravener 22 Jul
I think most people view it as a status symbol and don't think much about its scarcity.
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5 sats \ 0 replies \ @BitcoinIsTheFuture 22 Jul
Only from music songs!
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5 sats \ 1 reply \ @Machiavelli23 22 Jul
“Shiny rock”
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14 sats \ 0 replies \ @teemupleb 22 Jul
“It’s valuable because it looks pretty”
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0 sats \ 0 replies \ @hasherstacker 24 Jul
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0 sats \ 0 replies \ @watchmancbiz 23 Jul
It's sad so many believe in stepping out from the "system" yet don't understand the powers of gold?
In reality, even cryptocurrency is digital and will eventually be migrated into the "system".
Gold has stood the test of centuries. The wealthy rich know the power, and invest in it all the time. It retains value, and protects against inflation. At the end of the day, you may not be religious/spiritual but the Bible says the streets of Heave are paved in gold!!
IT'S GOD MONEY!
If the grid goes down, and we have a WROL/SHTF scenario, Precious Metals will be key to barter and pay for items needed.
I don't think some BTC people are ready for what is to come. UNDERSTAND THE POWER OF PRECIOUS METALS my friends, I speak with love!!!
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0 sats \ 0 replies \ @orto 22 Jul
Do most people understand that gold mining is much more hazardous to nature rather than Bitcoin mining?
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0 sats \ 0 replies \ @bitcoingecko 22 Jul
Most people think that its value in technology has to do with it's value from my experience.
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0 sats \ 0 replies \ @Msd0457890 22 Jul
It is a rather relative question, many people know the value of Gold, and yet they do not see it as something that allows them to store value.
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0 sats \ 1 reply \ @lrm_btc 21 Jul
I mean, I used to think they did, but after listening to Peter Schiff peddle the utility value, I wonder.
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0 sats \ 0 replies \ @kepford OP 22 Jul
Virtually no one know who he is.
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0 sats \ 0 replies \ @0xbitcoiner 21 Jul
How much gold has been found in the world? #832953
Jewellery Demand
Gold jewellery represents the largest source of annual demand for gold per sector. This has declined over recent decades, but it still accounts for around 50% of total gold demand.
India and China are by far the largest jewellery markets, together accounting for over 50% of the global total. The Asian and Middle Eastern markets are dominated by demand for purer, higher-carat gold.
https://www.gold.org/about-gold/gold-demand/by-sector
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