Ive never been able to understand the concept of gold. Why is it so valuable? How do countries know that the amount of gold being held by other countries? Who audits these gold reserves to make sure the gold isn’t fake? In the event of a major war would you trade food for gold? feel like people would trade goods for different goods in such a dramatic event. I have potatoes and trade them for fruit type stuff. Is gold the same scam as diamonds? Or how is gold any different than Bitcoin?
In: Economics
Its pretty rare, but common enough to be useful. It’s also very widely distributed, you can find gold pretty much everywhere on earth.
It’s soft enough that it can be worked with very basic tools.
It is insanely resistant to corrosion, rusting, or any other blemishing or rot. You could bury a lump under a bunch of mud, in the bottom of a river, with bugs and fish pooping all over it … and that lump will be in perfect condition thousands of years later.
That resiliency also makes it somewhat easy to find along rivers. All of the “normal” rocks will get broken down and eroded over time, but the gold stays shiny.
Oh, plus it’s shiny. We do like shiny things.
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