THE VALUE OF THINGS

What something is worth is just a convention. This applies to gold. stocks , bitcoin , antiques and art. Throughout his life, Van Gogh barely managed to sell a painting because everyone thought he was a worthless painter. Now his paintings sell for millions. Maybe, within 200 years people will not like him and his paintings will go for a fraction of the current price. The same goes for gold. This has indeed been a store of value for 6000 years, but that is also a convention. Many Native Americans saw it only as a yellow stone and considered eagle feathers and bear claws more valuable. In future cultures it can go back to gold. The argument that gold has been in use for so long does not mean that it will stay that way and could easily be replaced by bitcoin in the future because the supply there is finite. Only the future will tell. (I bet on BTC anyway)

laat een reactie achter