Earlier quoted context omitted.
> What else should you do with a store of value that you expect to appreciate in price because it has inflation going to 0? Do you expect to increase in price solely because there are a limited amount? There are many things which have that property, but are not good stores of value. Your ability to sell it later for more money is based on continuing demand. Unless there's some other use case, where is that demand goi…
This is beating a dead horse and the typical argument, but the same can be said for gold. Its "intrinsic value" in terms of practical application is far lower than the market cost given the plentiful substitutes for high current / low heat transmission applications. I really do wonder why Bloomberg hates Bitcoing. If you read through a history of their articles, they REALLY hate it.
On the opposite end of the spectrum you’ve got South American cultures that loved Gold for purely decorative purposes, but basically never considered it money. These cultures largely traded using barter or using a specific agricultural product as the unit of account, such as cacao beans.