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119 sats \ 4 replies \ @Coinsreporter 14 May 2024 \ on: Why Gold Is Such A Terrible Investment econ
To add some practical insights, people are not as interested in Gold now as they used to be a few years ago. This is a reality. I'm from India and I now see a lot of woman here who are not willing to put a huge necklace or bangles or earrings on or around their bodies.
Take it just as an insight. Gold's value is not generated through any use case, instead it is generated through gold bonds accross the globe.
If you seriously deliberate, gold stands nowhere near to Bitcoin and its use cases.
Are Indians becoming more interested in Bitcoin as a wealth preservation substitute?
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I don't know man! There's a great disparity in knowledge distribution here. Those who understand bitcoin are very few in number. Though the population is very high so it seems like there are many.
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He mentions that Indian's aren't as into gold as they used to be. Is that related to the legal change around gold a few years ago?
I don't remember the details, but I remember there was a big change to gold regulation or taxation in India.
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Yes, now it's more regulated so people don't wanna invest in it as previously. But, yes I'm buying from some local goldsmiths without bill and in cash, albeit in smaller amounts.
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