comment by geneusutwerk

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geneusutwerk · 4226 days ago · link · · parent · post: Bitcoin loses 44% of its value in one day. Dropping from over $250 to around $150

The recent bubble in gold is most likely due to speculation, but gold has an underlying value. As of now the majority of gold demand does not come from investment demands but from jewelery and technology. Here is a chart with the demand in tons

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mk · 4226 days ago · link ·

Thanks. So it looks like investment provides ~40-50% of the gold demand. I wonder if that non-investment demand is critical for it being used as an investment vehicle. It gives it a floor. Hm. Maybe Hallmark can invent a bitcoin holiday or something. :)

+discuss