Gold

[denpal]

Cryptocrude will be getting nervous, bitcoin under $50k after Tesla stopped accepting it as payment....not green enough.

[Nor]

Apparently from what I read, when the communists demolished the original St Saviour church in Moscow, they removed 24 tons of gold from the roof.
I always think of this when I hear someone say gold is useless. Of course it was far better than corrugated iron would have been, it would last forever. Same for water pipes, never need replacing (unless they were stolen of course).
Still I have difficulty using these facts to prove how useful gold is. They show how useful it could be were it not for price. But if it's only the price that makes it useless, that's something else. It seems a bit circular.

[JBmurc]

Yes well it depends on usage amount per application.. I got a Gold crown fitted couple years back ...and its brilliant plan to get another fitted soon ...not much Gold $50-$100 worth etc

Benefits of Gold Crowns
More modern materials, like porcelain and ceramic, are popular today because their color offers a more natural look and is less noticeable. Gold crowns, on the other hand, are hard to miss.

That being said, there are numerous benefits of gold crowns that you can’t find with any other material. These benefits include:

High resistance to corrosion.
A quality seal to the tooth, preventing further decay or leakage.
A minimal amount of tooth removal.
Fracture-resistance.
High tolerance for biocompatibility.
Gold crowns also last much longer than other fillingsls, but obviously come with a large price tag. Fortunately, their longevity means you can sell them for a lucrative price when it’s time for a replacement.

Other micro usage >>>>

gold doesn’t oxidise.

The contact surfaces for CPUs, RAM, PCI cards, etc need a very, very exact electrical contact to work correctly.

Any small spot of oxidation would break the electrical contact and cause errors in communication. To avoid that we use a tiny layer of gold over the contacts to provide corrosion protection.

[Aaron]

Sorry mucked up.

[Aaron]

JBmurc isn't the price of gold a bit like the price of Bitcoin as a currency and a store of value, it depends on the faith people put in it. If you are arguing that golds ability to not corrode makes it good for practical applications then its price should be falling to make it a more realistic alternative in practical applications and as a commodity.

Interesting to see Elon/Tesla not accept bitcoin for environmental reasons. On the same basis no one would accept gold I would imagine.

That said last few days gold prices have perked up and still the only currency with physical limitations on supply.

[JBmurc]

JBmurc isn't the price of gold a bit like the price of Bitcoin as a currency and a store of value, it depends on the faith people put in it. If you are arguing that golds ability to not corrode makes it good for practical applications then its price should be falling to make it a more realistic alternative in practical applications and as a commodity.

Interesting to see Elon/Tesla not accept bitcoin for environmental reasons. On the same basis no one would accept gold I would imagine.

That said last few days gold prices have perked up and still the only currency with physical limitations on supply.

Not IMHO ...Vast majority Bitcoin faith of value comes from its Holders .. 99% of the masses don't give a rats ass about it ...many believe it actually very bad for the planet >>

Gold doesn't need faith it has real use you use a smart phone , Computer ,TV ,autos etc ? ..real mineral properties you can't just make up on a digital platform ... costs to mine continue to rise this is what backs its value... you can't just make a new Gold ... its been here for Billions of years and will be here long after mankind has wiped its ass for the last time...

.I think Gold faith would be the dead opposite to BTC and 99% of the human race would see value in say Gold Jewellery ...From a very young age we all know the Gold award & medal was a great achievement

-People not accepting gold from environmental concerns would cover pretty much all items /foods /shelter ...are humans going to stop using Iphones ? autos etc

[Bjauck]

...
Interesting to see Elon/Tesla not accept bitcoin for environmental reasons. On the same basis no one would accept gold I would imagine.
...

Most of modern life and civilisation should be reappraised for environmental reasons. Palaeolithic lifestyle here we come...

[Getty]

Gold on a consolidated close of US$1866.40 overnight.

A good breakout on the chart, and should be positive for Aussie producers today, following on from a good day yesterday.

[denpal]

China has now banned crypto as a means of payment! Good for PMs I'd say.
https://www.news.com.au/finance/mark...200494cdc79bf0

Bitcoin now down to $US39k. I wonder if Cryptocrude is still so utterly messianic?

[denpal]

This guy has some great charting insight, @graddhybpc on Twitter. Needless to say he's frothing at PMs potential now including Platinum. He thinks silver will have as great a run as BTC.