96 sats \ 7 replies \ @elvismercury 31 Jan \ on: Central banks have been buying gold at a record pace news
Bitcoin bulls want to know: If you can easily buy a commodity on the stock market, in ETF form, does that drive demand for the commodity itself? The answer, judging by the past three years in the world of gold ETFs, is a clear no.
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62 sats \ 2 replies \ @grayruby 31 Jan
Paper gold market is massive. We don't need to worry about this happening in bitcoin until the paper market is maybe 5x what it is now.
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50 sats \ 1 reply \ @Turnspit_Dog OP 31 Jan
Costco is trying to get some gold holders on board... would that be a GHODLer?
https://www.costco.com/1-oz-gold-bar-pamp-suisse-lady-fortuna-veriscan-new-in-assay.product.4000186760.html
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10 sats \ 0 replies \ @grayruby 31 Jan
Yes, a friend of mine texted me about this when he was at costco a couple weeks ago. Their price over spot is not bad actually and it is costco so one would imagine they have worked with a reputable vendor who has verified it's real and pure.
I don't stack gold anymore but I would consider it if I did.
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10 sats \ 3 replies \ @Turnspit_Dog OP 31 Jan
Devil's advocate.... do most people that want to buy gold an older generation because that is what a store of value has been for generations? Newer generation does not see gold the same way as a store of value as the newer generations.
So does this directly correlate to BTC ETF's? Dunno... just a random thought.
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10 sats \ 2 replies \ @026180d3a3 31 Jan
Gold is inherently valuable to most everyone as it is a precious metal and there is therefore not a lot of it. (Still, there is a bit of it). BTC doesn't have any intrinsic value beyond a digitally derived market.
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0 sats \ 1 reply \ @DiedOnTitan 31 Jan
What is the "intrinsic value" of the SWIFT network? Or the Internet for that matter?
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0 sats \ 0 replies \ @026180d3a3 31 Jan
  1. It only has agreed upon value among those who use it. Could say it is a "derived value".
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