Bitcoin is not digital Gold, it is digital Rhodium

[readysalted89]

Like Bitcoins rhodium exhibits three properties:

It is very rare, (much) rarer than Gold
It is somewhat of a fringe investment
It is subject to hypes

And most importantly it is one of the few actual assets which exhibit wild price swings.


I find it very interesting how chaotic those are, so if you think to know what bitcoin will do next over any longer period of time: Think again

Good find, although bitcoin feels just a touch more useful then Rhodium.

I disagree.

Rhodium's major use is as one of the catalysts in the three-way catalytic converters in automobiles. White gold is often plated with a thin rhodium layer to improve its appearance while sterling silver is often rhodium-plated for tarnish resistance.

Catalytic converters in automobiles are probably used considerably more than Bitcoin.

[yefi]

And most importantly it is one of the few actual assets which exhibit wild price swings.

All of the Platinum metals seem to exhibit wide price swings. These charts from a report by the U.S. Geological Survey show long term price trends. Red line is inflation adjusted.



Ruthenium went from $13/oz average in 1993 to $574/oz average in 2007. In 13 years, Iridium fell from $666/oz to $47/oz.

To be honest though, we're really too narrow-sighted when we look at a mere forty years in these metals. Trends can emerge over very long time periods indeed, and what can appear as randomness on one scale can be a pattern on another.