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Comment by hermanmerman

1. Gold had value 4000 years ago because it was rare enough that people could use it as a currency, not because it was a useful metal. Incidentally, it's not useful at all compared to steel, copper, aluminum, etc. hence its use in jewelry.

2. Gold has value today because some people are willing to buy it and some others are willing to sell it. I don't see how it couldn't be the same with Bitcoins (or anything for that matters). Can you explain to me why dollars have value? Euros? Drachmas?

3. You repeating that two successful investors said something at some point doesn't mean they are right, and you saying that they "agree with you" doesn't mean you are right. When trying to find the truth, blindly referring to authority is the last thing you should do.

parent hermanmerman 11 years ago

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