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96 sats \ 7 replies \ @elvismercury 31 Jan 2024 \ on: Central banks have been buying gold at a record pace news
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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Costco is trying to get some gold holders on board... would that be a GHODLer?
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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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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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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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What is the "intrinsic value" of the SWIFT network? Or the Internet for that matter?
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- It only has agreed upon value among those who use it. Could say it is a "derived value".
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