/biz/ - Business & Finance

>>58036691
ooh an intellectual!

Let's think then!

Let's start with you saying that it comes from other peoples views. This is correct theoretically but there's also an important component to it, which is not just their views, but also their needs. A hindu may not care much for gold, but their texts say that it purifies anything that it touches. Philosophically its all "anything can have value" but in reality a woman does not want to have children with you in a marriage unless you give her a GOLD ring, and preferably with diamonds... bitchez love diamonds. Is that subjective? In the grand scheme of things yes... but in the real world it's rooted in all cultures of the world through millenia of history and religion that gold is the shit, and value itself.

Based on this silver was also used for the same reasons (jewelry, it's antimicrobial properties, religious reasons). It was also universal. So universal in fact around the world that you might almost call it "intrinsic" value.. which is of course impossible, but it's pretty damn close to intrinsic based on history. You might say "well they coulda used anything!" right... but they didn't, and there are reasons for that, reasons that we need to realize we may never understand. But we CANNOT approach this as "i don't know the reasons why it was gold/silver, so therefore there were none, it's all arbitrary!"

No. We have to also look at political valuations. Of the fact that legally gold and silver were money in many countries around the world and for the bulk of people alive today gold and silver was money itself at some point in their lives (anyone born pre 1964 in the US, or pre 1981 in switzerland for instance.

Now you said something along the lines that its use in industry is NECESSARY in industry to lead to its value. That's wrong and a strawman, but it does also add to the innate demand, gold is the second most conductive element, silver is the most conductive known element in the universe.

>>57547242
>Won't be much longer that you can buy real tangible assets like silver with a fake meme internet money like bitcoin.

You can and will always be able to trade metals for currencies, but you won't always be able to trade currencies for metals because every currency fails while metals remain...