QUOTE(morbo @ Jan 7 2021, 02:43 PM)
Your words were "Purely depends on how much people value 1 btc." and hence using your example, the price of anything is dependent on how people value it.
Using an extreme example, there could be a time when people view gold as useless (let's say it gets replaced by another rare metal - worth reiterating that this is a very extreme example), then people would value it at close to zero. Not that I want that to happen, nor am I trying to start a long drawn out argument, just going along with your hypothesis.
We had the tulip craze when one tulip was worth a house before. Using an extreme example, there could be a time when people view gold as useless (let's say it gets replaced by another rare metal - worth reiterating that this is a very extreme example), then people would value it at close to zero. Not that I want that to happen, nor am I trying to start a long drawn out argument, just going along with your hypothesis.
The Dutch Tulip Bulb Market Bubble was one of the most famous asset bubbles and crashes of all time. At the height of the bubble, tulips sold for approximately 10,000 guilders, equal to the value of a mansion on the Amsterdam Grand Canal
We also had salt as precious commodity. Now you drop a packet of salt on the floor, you don't feel a thing.
We are living in the moment, gold still has usage. But again, how 'valuable' it is in the further, we won't know. Gold has always followed inflation level - the worst investment and close to FD rate. Unsure why people get excited when gold reached 2k.
Jan 7 2021, 03:18 PM

Quote
0.0158sec
0.33
7 queries
GZIP Disabled