As the AI market continues to balloon, experts are warning that its VC-driven rise is eerily similar to that of the dot com bubble.

  • SCB@lemmy.world
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    1 year ago

    Gold does not have intrinsic value. It is merely scarce (relatively speaking). The value of gold fluctuates all the time.

    • Sludgeyy@lemmy.world
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      1 year ago

      Intrinsic - belonging naturally; essential

      Gold has physical applications that are needed

      Even if people didn’t want it because of the looks, gold would still be needed to make things

      Gold has intrinsic value because it is always going to be worth something

      Gold is never going to be worthless. That’s it intrinsic value.

      • SCB@lemmy.world
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        1 year ago

        Much of gold’s value (certainly before the ending of the Gold Standard) was totally subjective. It looks pretty. Being rare and pretty gave it value.

        I suppose you could tie some sort of value to technical application, but it isn’t intrinsic to gold itself. If society collapses tomorrow, gold isn’t suddenly going to be currency.

        • Sludgeyy@lemmy.world
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          1 year ago

          Yes much of gold’s value comes from the way it looks. Not disputing that.

          I suppose you could tie some sort of value to technical application, but it isn’t intrinsic to gold itself

          It is

          Gold has properties that are unique. You can’t just use iron as a replacement. Apple can’t be like, “You know gold is expensive, I think we will just use cheap iron in our phones instead”. Not going to work out. There is a demand for gold over it just looking pretty.

          This technical application is what gives gold it’s intrinsic value

          Even if that value is really low it’s always going to be something

          Well not always because, like you said, if society collapsed, Apple wouldn’t need to make phones. But at that point, all economic stuff is out the window. It would have to go through a bartering system until some kind of currency system could get started again. Eventually gold will be needed again. So really it still has value just not at the time.