Can someone give me a lamens explanation of why gold is valuable?

>>2974712
as soon as they start mining asteroids, it won't be worth much

Gold comes from space nigga

>>2974712
Smelting gold and creating gold armour and weapons are you retarded?

>>2974712
Money isn't based on the value of gold. The value of gold is based on price speculation, people just like to attach other meaning to it and like to believe owning $100 in gold makes them better than the guy who owns $100 in potatoes

>>2974712
> lamens

>>2974765
But at least you can eat a potato. What make $100 of gold worth $100? What value does gold actually provide?

>>2974712
Gold is worthless just like silver. Only the internet and all things crypto have any real value. I can't believe this trash is even posted on /biz/. JUst wait till crypto hits 10k. Gold is going to slip into the abyss along with everything else that is about to bow down to crypto.

>>2974850
>What make $100 of gold worth $100?

If someone's willing to pay $100 dollars for it.

>>2974872
So I guess my question is why would anyone pay $100 for it?

>>2974881
because they think someone else will pay them more for it later.

Because it's rare and finite.
Has properties far superior than other noble metals. Holds more actual value than stock and bonds

>>2974850
>>2974906
This.

>>2974916
These are some reasons people assign, but the properties of gold have almost nothing to do with its price which you can see clearly just by looking at the values of its substitutes.

The fact it hodls price better than some stocks and bonds also has nothing to do with what it is and is nothing more than self fulfilling prophecy

>>2974881
They think it'll be worth $110 in a dew days
They everything the value of else will go to shit
They like shiny things

>>2974980
So what is it really based on then?

>>2974916
What are the properties that make it so valuable?

>>2975017
What makes $100 of dollars worth $100?

>>2975017
Overwhelming just price speculation / the idea of selling it for more at some point in the future, that is literally all there is.

>>2974712
It's shiny

>>2975058
Well that's what I don't really get. I'm new to all this shit. I was told money was originally based on the value of gold, and nobody could explain why the value of gold is what it is. I guess if everybody just decided either one wasn't worth shit, they'd both be worthless then.

>>2975069
So physical gold is really no more valuable than bitcoin or any random cryptocurrency then I guess, right?

>>2974850
Potatos rot gold doesnt checkmate

>>2975101
>I was told money was originally based on the value of gold

lol what? No. That hasn't been the case for over half a century. Whoever told you that has no idea what they're talking about.

>>2974712
wtf is with everyone on this board assuming everything's gonna go to shit? we would need some fuckin massive apocalypse for something crazy to happen but humans are pretty fuckin resilient. Invest into crypto, it's got a much brighter future

>>2975140
I don't assume everything is going to shit, I just figure that's the only scenario in which the actual "value" of gold means anything.

>>2975137
>originally

>>2975108
fuk u got me

But currency itself is the same way as gold in that it only holds value because we give it value.

>>2975173
I was kinda under the impression that it was valued differently than currency, but I guess that makes more sense.

>>2975108
rocks dont rot either faggot

>>2975101
Gold is many times more valuable than all cryptos combined, but the value all comes from the same place which is just the market deciding where to allocate it. If you want to trade you are trying to work out what the market will do rather than what the gold will do.

>>2974717
oddly enough this, if you hold gold in the future you are literally retarded and deserve eating your shiny metal bar

Want the irl redpill /x/ answer? Cause thousands of years ago the Anunnaki aliens that came here had human slaves and huge machinery especially around peru nazca lines and other places mining for gold.

Thus when they left humans knew they were mining gold for some reason and they started doing the same. Thats why gold became this top tier meaning of wealth. This is true story.

Its fucking amazing how ductile it is.like you can stretch one Oz into a wire around the world or some shit

>>2975231
for now yeah. I suspect BTC will actually start to cannibalize on the price of gold as soon as institutional investors will be allowed to buy crypto.

As BTC is the equivalent of digital gold - it does everything exactly the same as gold does, but you can instantly melt your BTC bar, divide it into a infinitely small exact piece and send that across the globe. BTC is the ultimate gold killer.

>>2975272
Yet it is copper wires we stretch around the world

>>2975278
And this is why we hodl BTC, since there is some reason to believe it has a chance at being the worlds next great pyramid. The price might seem high right now but the odds are still extraordinarily in our favor