That does not address the point. The purpose of money is to represent the productive force in society. What do you think happens when you link that to 'true scarcity'?
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it is simply shiny
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I would think if you were looking for an investment with "intrinsic value" in this fundamental energy usefulness whatever way, you'd be better off investing in, say, Potatoes than Bitcoins. Maybe Twinkies if longevity is an issue.
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Its industrial value is actually its nemesis. Aluminum was once the world's most precious metal only kings could afford.
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Could you explain what you mean by this? The drop in the price of aluminum seems to be an obvious case of a change in the supply (i.e. the Hall–Héroult process), not demand; aluminum is Earth's crust's most abundant metal, but used to be nearly impossible to extract.
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Somewhat disagree, gold is a very useful metal; Ductile, non-reactive, excellent conductor. If it was more common (as it may be in the future if we ever mine asteroids) then its density and non-toxicity would also be useful and we could use it where we use lead.
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The percentage of the market value of gold that is tied to genuine industrial use is vanishingly small, which we can see by the fact that its market price is extremely volatile and this volatility has no correlation with the health of the industries that use it
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The stability of gold's value over decades (even centuries and millennia) is in itself a value The US dollar, while accepted everywhere, is constantly losing value to inflation
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Inflation is good. It keeps the economy moving.
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