[ExI] Fwd: Re: [mta] Re: Bitcion Moore's Law?

[Gordon]

Tomasz Rola <rtomek at ceti.pl> wrote:


>>Myself, I view bitcion price as very much "made up" value. How it is going 

to change?<<


The price of gold is also, one might say, a "made up" value, and I find it most useful to think of bitcoin as a simulated gold-backed currency. Gold has only limited utility in industry and jewelry. We value gold mostly because its history and tradition as currency, but it is no longer very useful as a currency. 
Bitcoin is actually a threat to gold, and could in theory make gold worth nothing more than its true utility value.  I'm only guessing here, but the true utility value of  gold is probably something like 100-200 USD per ounce, if that. Copper currently trades around $3 per *pound*. Aside from the ornamental value of gold, it probably has less utility than copper.

Gordon
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