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William Seger

(11,649 posts)

6. That's another crypto myth -- gold is real and has real value because it has real uses

Reply to Norrrm (Reply #5)

Wed May 28, 2025, 06:38 PM

Wednesday

Crypto has no demand remotely similar to the demand for gold from the electronics and jewelry industries. The demand for crypto is based on EXACTLY one thing: the belief that someone in the future will be willing to pay more for it than you did -- a strategy known as "the greater fool theory" of investing, but I think that's a bit harsh and instead call it online gambling.

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