Comment: "Nothing" is a bad way to store value.

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"Nothing" is a bad way to store value.

"The biggest knock against gold is it represents nothing of value. Why would somebody trade something for nothing?"

Okay let's look at that statement truthfully.

Gold is just a commodity, and the one which historically defeats its competition as means to store, transport and exchange value. It's a reliable and portable store of value, highly divisible, nonperishable, indestructible, and seen as something people desire.

It's okay to desire something when you work for it, and people are historically willing to work for gold. Working for nothing is historically frowned upon.

How about I replace "gold" in your statement with ANY other commodity, ie something that loses to gold in a monetary competition.

"The biggest knock against "petroleum" is it represents nothing of value. Why would somebody trade something for nothing?"(Yes, people have used petroleum as money)

"The biggest knock against "silver" is it represents nothing of value. Why would somebody trade something for nothing?"(Yes, people have used silver as money)

"The biggest knock against "tobacco" is it represents nothing of value. Why would somebody trade something for nothing?"(Yes, people have used tobacco as money)

"The biggest knock against "rice" is it represents nothing of value. Why would somebody trade something for nothing?"(Yes, people have used rice as money)

What it boils down to is BitCoin is backed up by NOTHING. It represents NOTHING of value. It is a poker chip. so let's look at your statement under a new light.

"The biggest knock against "NOTHING"(a poker chip/BitCoin) is it represents nothing of value. Why would somebody trade something for nothing?"

I know I wouldn't. I'd laugh in your conman face and then show you the door.