i already said they are scams - most everything will never live up to being worth, what has been invested in it. also gold doesn't have to be maintained endlessly by minions who are not getting paid. and gold only requires energy once to obtain it btc takes endless energy to keep it alive. think my fellow lambo fool...
Read this book: https://www.gutenberg.org/files/24518/24518-h/24518-h.htm Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, by Charles Mackay Manias like this have been a feature for as long as history has been recorded.
Gold has to be stored. It can't be transferred easily. It can't be redeemed easily unless you hold certificates? Do they still do that or did that end during the Paleolithic period?
There objectively hasn’t been a bubble like this tho. One that has lasted for 15 years, has a vol over 70 with a sharpe above 1. One that has crashed greater than 80% 5 times and come back? When can we stop comparing this to tulips, which lasted like 1 year. What a joke.
Very wide range of estimates but haven't seen any that suggest the banking system or gold is more efficient than BTC. Can't find the comparison I was looking for which compared all other costs for banking, gold and crypto such as physical gold mining, machinery, buildings, humans, etc... The banking system has a massive computer system that keeps it alive also, just like BTC but BTC computer systems are much less complicated so require less maintenance/change and human involvement. https://cointelegraph.com/news/banking-uses-56-times-more-energy-than-bitcoin-valuechain-report https://cointelegraph.com/news/banking-system-consumes-two-times-more-energy-than-bitcoin-research