Submitted by SenorDipstick t3_yf5mvv in Showerthoughts
artaig t1_iu1w6ip wrote
They are not just shiny, they are durable.
Same with gold; it has been use as a commodity for exchange of value since antiquity since it is the only (readily available) metal that never corrodes. If your "wealth" is a bunch of iron, it will rust within your lifetime. That's why it was always used by the Church to represent God: both God and gold are incorruptible.
Keeping your simplistic reasoning. Why a number in an excel sheet is so valuable? I mean the number of nothingness that Jeff Bezos has in his bank account. It's literally nothing.
himmelstrider t1_iu1ywz9 wrote
Yet, gold was corruptible. It doesn't rust, yes, but as gold coins and nuggets were used, in said use, they would erode slowly. That is one of the main reasons we switched to banknotes. Banknotes originally were basically a bond, a proof from the bank that such amount of gold is held by the bank in your name. People then figured out it's a hassle, so they started exchanging said notes, using it as essentiay cash, money as we know it today. Back in some year, can't remember, money notes stopped being backed in gold, and just became what you said, a number that we give value to, that has absolutely no real hard value behind it but the guarantees of various institutions (Central Banks of the world) and inherent market laws. That's why value of money can tank overnight due to politics, economy upset etc.
Nieshtze t1_iu2b1wf wrote
Aren't diamonds supposed to be pretty brittle?
soclda t1_iu2i9c2 wrote
They’re actually very strong due to how the atoms are bonded; they use diamonds to cut and shape other diamonds, as well as using them as drills, etc. On the Mohs hardness scale, they score a 10 out of 10. That doesn’t mean they can’t be scratched or chip, but they’re definitely tough.
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