To anyone who make argument 'Gold have value because it can be made into jewelry'

You make jewelry from gold because gold have value, not gold have value because you can make jewelry from it.
why not use glass as jewelry? it looks shiny too.
gold real value come from scarcity and liquidity. (just like bitcoin value come from)
the use in electronic is very tiny that contribute to the price, if industry usage is what make element valuable, then why steel is very cheap compared to gold? it literally used in almost everything.
Also imagine if space technology keep improving and asteroid mining is happening, they can mine a shit ton of gold from asteroid, then what will happen to the price?
but still, gold hold real value, for now the scarcity and liquidity is very good.
space tech still long way to go, and liquidity is the best because historically we use gold since long time.

Submitted September 18, 2019 at 09:56AM by SakamotoDesu https://ift.tt/2LZ9ZDD