Manufacturing & jewelry.
If you cut the supply of gold tonight, tomorrow morning there will be lost utility in the society irreparably.
If bitcoin disappears tonight, tomorrow will be Thursday.
If you cut the supply of gold tonight, tomorrow morning there will be lost utility in the society irreparably.
If bitcoin disappears tonight, tomorrow will be Thursday.
This is very much a tangent, but my favorite fun fact is that if you got all the gold humans have ever mined and put it in one place, its smaller then you'd think. It would be a cube about 70 feet on each side. Most metals, including gold, are infinitely recyclable. There's a good chance any gold jewelry you have has quite a past, having been melted down and reforged quite a few times.
Look up gold’s use by mass. It is dominated by gold’s value being a social construct.
When the Spanish discovered the “new world” they didn’t have to convince the locals that gold was valuable they’d been hoarding it too. For centuries, without any communication or contact at all.
It’s been held as a high value asset in basically every iteration of humanity that’s existed, including today’s. That’s about as close a definition of intrinsic as you’re going to get in this world.
Because your wife says so. Yes jewelry in genaral is a social construct, but it is not replaceable. At least it was not for the past 5000 years.