251
Gold for house
(lemmy.ca)
wood for sheep?
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 28 Jan 2024
251 points (74.8% liked)
Memes
45121 readers
2300 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
This isn’t actually true. In the US, housing has outpaced the value of gold.
In 2023, you would need 254.7 ounces of gold to buy a house, since $495,100 avg home / $1,943 price of gold = 254.7
In 1920, you would need 164.1 ounces of gold to buy a house, since $3,395 avg home / $20.67 price of gold = 164.1.
Fuck, even the gold isn't safe.
The same can be said for banknotes, they are quite useless as paper, they are mostly valuable because people see them as valuable and perceptions can change
I'm gonna start carrying houses, food and water in my wallet instead
Dragon ball had it right. Fuck storing Pokémon. I wanna carry around my house
Right, which is why using gold for a currency replacement is folly. They're both valued based on something other than their real world applications, so if you trust one to stay relevant, you should probably trust the second as well.
Right but at least bank notes are easy to use and don't require a scale.
Crypto Bois reading this