agree with this 100%. contrary to popular belief; gold will lose value over the longterm.https://twitter.com/nickszabo4/status/605890791991410690 …
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@01101O10@NickSzabo4 Uh, no. Gold's value in jewelry comes from the fact that it is expensive, to flaunt wealth.
@ErrataRob @01101O10 A big % if gold's value is from use, and potential greater use (when mistrust rises) as reserve currency.
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@ErrataRob@01101O10 Remainder still has some value due to jewelry-as-wealth-show, electronics, etc. -
@NickSzabo4@01101O10 if monetary value disappears, so so value-as-wealth-display -
@ErrataRob@01101O10 Like shell beads when they made way for gold & silver. -
@ErrataRob@01101O10 Now beads are just decorative.
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@NickSzabo4@01101O10 Tiny % of gold's value is from any use other than monetary. -
@ErrataRob@01101O10 Monetary use is store of value. Show of wealth is something else. Most Au monetary use will go away. -
@NickSzabo4 Time until trust can be established. 30 years??@01101O10@ErrataRob -
@SBartender@01101O10@ErrataRob Probably much longer than that, but hard to say.
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