Comment by FollowingTheDao
4 days ago
How is it not useful for society if it’s worth $3300 an ounce? It’s a metal prized physical properties and it’s also used in industry.
4 days ago
How is it not useful for society if it’s worth $3300 an ounce? It’s a metal prized physical properties and it’s also used in industry.
My favorite LLM tells me that roughly 85% of the world’s gold is simply “lying around” in the sense of being held as jewelry, bars, coins, or reserves. In contrast, only about 15% of the gold is actively utilized in production or technological applications.
So I'd say it's the same as having cash under your pillow.
If it’s the same thing as cash under your pillow, and it’s useless, then give me all the cash under your pillow.
Yes, exactly. That’s the idea!
I give my cash to you, and, as exchange, I will own a (usually small) share of your company.
Then you’ll hopefully be successful and my shares will raise.
Good for you. Good for me. Good for society since you created jobs.