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re: Why is Bitcoin soaring?

Posted on 3/4/24 at 7:59 am to
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
81179 posts
Posted on 3/4/24 at 7:59 am to
~9% of gold’s value is tied to its industrial use

~91% of its value is tied to people perceiving it as valuable

Using Gold as an example of a store of value that has value because of its use is not great.
Posted by SlidellCajun
Slidell la
Member since May 2019
12271 posts
Posted on 3/4/24 at 10:39 am to
quote:

~9% of gold’s value is tied to its industrial use ~91% of its value is tied to people perceiving it as valuable


Not really sure that accurate or how you could even know those figures.
It’d be interesting to know what percentage of bitcoin’s value is tied to its intrinsic use and what percentage is tied to its perceived value.

I’d imagine it would be almost all perceived value since the actual usage of bitcoin is limited.
This post was edited on 3/4/24 at 11:34 am
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