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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h20">Yes, gold is valuable because it’s shiny</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h31">Still not a better store of value?</a></li></ul>
<a href="https://u.today/roger-ver-aka-bitcoin-jesus-who-is-piloting-the-drowning-vessel-called-bitcoin-cash">Roger Ver</a> recently took to Twitter to explain how gold is a better store of value than Bitcoin (BTC). However, Ver’s comment clearly didn't resonate with his followers, who were quick to point out some factual mistakes.
<blockquote class="twitter-tweet" data-lang="en">
It’s amazing how many BTC maximalists don’t even know that gold has a huge amount of industrial uses completely separate from just being a store of value. In fact, it’s those other uses that enable gold to be used as a store of value.
— Roger Ver (@rogerkver) <a rel="nofollow" target="_blank" href="https://twitter.com/rogerkver/status/1098245914056056834?ref_src=twsrc%5Etfw">February 20, 2019</a></blockquote>
Yes, gold is valuable because it’s shiny
According to Ver, <a href="https://u.today/bitcoins-transaction-value-overtakes-paypal-and-points-the-coin-back-towards-being-currency">Bitcoin</a> maximalists ‘don’t even know’ that gold has plenty of use cases in different industries, which makes it a good hedge asset. However, Twitter users pointed out that gold was perceived as a store of value long before the Industrial Revolution even started.
<blockquote class="twitter-tweet" data-lang="en">
Gold was a store of value before industry existed.
— Richard Heart BitcoinHEXin4wks (@RichardHeartWin) <a rel="nofollow" target="_blank" href="https://twitter.com/RichardHeartWin/status/1098247175220416512?ref_src=twsrc%5Etfw">February 20, 2019</a></blockquote>
<blockquote class="twitter-tweet" data-lang="en">
Gold was store of value LONG before industrial revolution or any form of industrial production.
— Stjepan (@sosojni) <a rel="nofollow" target="_blank" href="https://twitter.com/sosojni/status/1098246159561297921?ref_src=twsrc%5Etfw">February 20, 2019</a></blockquote>
Even today, when gold is used in numerous spheres (from electronics to dentistry), industrial uses account only for 12 percent of its annual consumption. That essentially means that gold is still valuable because we think it’s valuable. To highlight, even Paul Krugman, a vocal Bitcoin naysayer, earlier <a href="https://u.today/my-enemys-enemy-vocal-crypto-skeptic-paul-krugman-predicts-bitcoin-will-overtake-gold">said</a> that Bitcoin has ‘more potential’ than gold.
<a rel="nofollow" target="_blank" href="#">card</a>
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Still not a better store of value?
As reported by U.Today earlier, gold has indeed fared way better than the digital gold. According to <a href="https://u.today/bitcoins-price-downturns-prevent-it-from-becoming-viable-hedge-asset-research">JPMorgan’s John Normand</a>, Bitcoin cannot replace traditional assets as a store of value since it’s way too volatile.
However, as the cryptocurrency market is gradually maturing, there is good reason to believe that Bitcoin could eventually become a viable hedge asset.
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Twig\Template->displayWithErrorHandling(Array, Array) (Line: 378)
Twig\Template->display(Array) (Line: 390)
Twig\Template->render(Array) (Line: 55)
twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 384)
Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 433)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array) (Line: 479)
Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 628)
__TwigTemplate_94824eadc93e4a1512dfcc7c7b9cd80d->doDisplay(Array, Array) (Line: 405)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 378)
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__TwigTemplate_ca9ecf502ddd85d5028d55c6a685faec->doDisplay(Array, Array) (Line: 405)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 378)
Twig\Template->display(Array) (Line: 390)
Twig\Template->render(Array) (Line: 55)
twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 384)
Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 433)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array, ) (Line: 242)
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Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 243)
Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 132)
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Contents
<ul class="article__contents-list"><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h20">Yes, gold is valuable because it’s shiny</a></li><li class="article__contents-item"><a class="article__contents-link link-pseudo" href="#h31">Still not a better store of value?</a></li></ul>
<a href="https://u.today/roger-ver-aka-bitcoin-jesus-who-is-piloting-the-drowning-vessel-called-bitcoin-cash">Roger Ver</a> recently took to Twitter to explain how gold is a better store of value than Bitcoin (BTC). However, Ver’s comment clearly didn't resonate with his followers, who were quick to point out some factual mistakes.
<blockquote class="twitter-tweet" data-lang="en">
It’s amazing how many BTC maximalists don’t even know that gold has a huge amount of industrial uses completely separate from just being a store of value. In fact, it’s those other uses that enable gold to be used as a store of value.
— Roger Ver (@rogerkver) <a rel="nofollow" target="_blank" href="https://twitter.com/rogerkver/status/1098245914056056834?ref_src=twsrc%5Etfw">February 20, 2019</a></blockquote>
Yes, gold is valuable because it’s shiny
According to Ver, <a href="https://u.today/bitcoins-transaction-value-overtakes-paypal-and-points-the-coin-back-towards-being-currency">Bitcoin</a> maximalists ‘don’t even know’ that gold has plenty of use cases in different industries, which makes it a good hedge asset. However, Twitter users pointed out that gold was perceived as a store of value long before the Industrial Revolution even started.
<blockquote class="twitter-tweet" data-lang="en">
Gold was a store of value before industry existed.
— Richard Heart BitcoinHEXin4wks (@RichardHeartWin) <a rel="nofollow" target="_blank" href="https://twitter.com/RichardHeartWin/status/1098247175220416512?ref_src=twsrc%5Etfw">February 20, 2019</a></blockquote>
<blockquote class="twitter-tweet" data-lang="en">
Gold was store of value LONG before industrial revolution or any form of industrial production.
— Stjepan (@sosojni) <a rel="nofollow" target="_blank" href="https://twitter.com/sosojni/status/1098246159561297921?ref_src=twsrc%5Etfw">February 20, 2019</a></blockquote>
Even today, when gold is used in numerous spheres (from electronics to dentistry), industrial uses account only for 12 percent of its annual consumption. That essentially means that gold is still valuable because we think it’s valuable. To highlight, even Paul Krugman, a vocal Bitcoin naysayer, earlier <a href="https://u.today/my-enemys-enemy-vocal-crypto-skeptic-paul-krugman-predicts-bitcoin-will-overtake-gold">said</a> that Bitcoin has ‘more potential’ than gold.
<a rel="nofollow" target="_blank" href="#">card</a>
Ads
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Still not a better store of value?
As reported by U.Today earlier, gold has indeed fared way better than the digital gold. According to <a href="https://u.today/bitcoins-price-downturns-prevent-it-from-becoming-viable-hedge-asset-research">JPMorgan’s John Normand</a>, Bitcoin cannot replace traditional assets as a store of value since it’s way too volatile.
However, as the cryptocurrency market is gradually maturing, there is good reason to believe that Bitcoin could eventually become a viable hedge asset.
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Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
__TwigTemplate_6d9d18caa33c92f0e9ed6e986fd56301->doDisplay(Array, Array) (Line: 405)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 378)
Twig\Template->display(Array) (Line: 390)
Twig\Template->render(Array) (Line: 55)
twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 384)
Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 433)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array) (Line: 479)
Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 628)
__TwigTemplate_94824eadc93e4a1512dfcc7c7b9cd80d->doDisplay(Array, Array) (Line: 405)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 378)
Twig\Template->display(Array) (Line: 52)
__TwigTemplate_ca9ecf502ddd85d5028d55c6a685faec->doDisplay(Array, Array) (Line: 405)
Twig\Template->displayWithErrorHandling(Array, Array) (Line: 378)
Twig\Template->display(Array) (Line: 390)
Twig\Template->render(Array) (Line: 55)
twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 384)
Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 433)
Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
Drupal\Core\Render\Renderer->render(Array, ) (Line: 242)
Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 580)
Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 243)
Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 132)
Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
call_user_func(Array, Object, 'kernel.view', Object) (Line: 142)
Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 174)
Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 81)
Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 23)
Stack\StackedHttpKernel->handle(Object, 1, 1) (Line: 718)
Drupal\Core\DrupalKernel->handle(Object) (Line: 17)
Vladislav Sopov
Yuri Molchan