ElectricMucus
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July 22, 2013, 10:50:13 PM

Bitcoin is almost half the market cap of rhodium right now, which is ridiculously overvalued. It's the only "monetary" metal with comparable volatility.
Comparisons with gold or silver just don't work out, since their inherent value is closely tied to our everyday lives while rhodium is not and neither is bitcoin.
Care to explain how golds value is closely tied to our everyday lives and bitcoin is more closely related to Rhodium?

You realize rhodium is mainly used in catalytic converters and golds main use is a store of value, right?

Half of all gold mined is used in jewelery, that's not really as a store of value since the jewelery is worth multiple times that of it's metal content.
 About every electronic device contains a small amount of Gold. Catalytic converters don't use rhodium any more since there are plenty of other catalysts which are just as good. The closest use is protective coating of metal surfaces which uses layers a few atoms thick, oh and in certain types of nuclear reactors. Certainly not comparable to gold or silver.




I believe 5-10% of the market cap of gold is from use in jewelry.

Look it up.