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@Redditsux@lemmy.world to News@lemmy.worldEnglish • 4 months ago

White House Says Gold Reserves May Be Used to Purchase Bitcoin

finance.yahoo.com

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White House Says Gold Reserves May Be Used to Purchase Bitcoin

finance.yahoo.com

@Redditsux@lemmy.world to News@lemmy.worldEnglish • 4 months ago
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A senior White House official has hinted at the possibility of the U.S. utilizing its gold reserves to acquire more Bitcoin (CRYPTO: BTC). What Happened: Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, ...

cross-posted from: https://lemmy.bestiver.se/post/289657

Comments

  • @vxx@lemmy.world
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    51•
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    4 months ago

    Gold works without energy. It doesnt oxidise or decay as other materials

    • @thisorthatorwhatever@lemmy.world
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      21•4 months ago

      Seriously when people say gold is worthless, what a joke. There is very little of it, as you mentioned it doesn’t oxidize, it’s the metal used in microchips. It ain’t sea shells or tulip bulbs or Bitcoin, that’s for sure.

      • @vxx@lemmy.world
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        5•4 months ago

        I would agree for the case that we’re truly in end times where nobody has anything and people fight over scraps of food, that gold might be worthless.

        It’s still your best bet for all other scenarios that don’t involve you hiding in a cave and eating bugs.

        • @dogslayeggs@lemmy.world
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          8•4 months ago

          And even THEN, gold is a shiny, pretty metal that doesn’t oxidize like other shiny metals. So the tyrants of the apocalyptic wastelands will STILL want it for jewelry.

          • @vxx@lemmy.world
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            1•4 months ago

            I think that’s the moment you don’t want to have Gold on you.

        • @AntiOutsideAktion@lemmy.ml
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          2•4 months ago

          You think the end times are going to be characterized by no one having anything?

          • @vxx@lemmy.world
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            1•4 months ago

            I think the end times is the short period before the end.

            If it is sudden, gold does matter even less.

      • @prole@lemmy.blahaj.zone
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        1•4 months ago

        Did I say it was worthless? It’s worth whatever people are willing to pay for it for its industrial purposes. That’s it.

    • Boomer Humor Doomergod
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      18•4 months ago

      If I was starving gold would still be worthless to me, regardless of how it oxidizes.

      • @SilverCode@lemm.ee
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        40•4 months ago

        With a bar of gold you can crush someone’s skull in and steal their food. Try do that with Bitcoin.

        • @Nalivai@lemmy.world
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          6•4 months ago

          You can use Bitcoin miners for that

        • Boomer Humor Doomergod
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          5•4 months ago

          Or feast on the delicious goo that comes out

        • Prehensile_cloaca
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          3•4 months ago

          horrific Viserys noises

      • @BussyCat@lemmy.world
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        10•4 months ago

        If all society broke down and all currencies became worthless gold would still have value as it has intrinsic value due to its chemical properties. Bitcoin would be worth nothing

        • Boomer Humor Doomergod
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          3•4 months ago

          There are easier and cheaper means of exchange. Indigenous people all over the world had access to gold but used it for decoration and not trade.

      • @Redditsux@lemmy.worldOP
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        3•4 months ago

        If you had gold and you are starving, then you deserve to die.

      • @piecat@lemmy.world
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        2•4 months ago

        Relevant Homer Simpson:

        https://youtu.be/dgct3Jn8pFA

        • Boomer Humor Doomergod
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          3•4 months ago

          Which is why they airlift bundles of cash when there’s a famine and not, you know, food.

      • @SocialMediaRefugee@lemmy.world
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        1•4 months ago

        Gold coins are very filling

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