Im more on OP's side here. Gold without central banks would have a fraction of its current value. 20% of all (currently known and extracted) gold is held by Central Banks. That's an inmense chunk. I really hope that never happens to J88 đang Nhap and the J88 đang Nhap holdings of government institutions stay under 10% (currently it's about 3-5%, depending on if you cound China's "alleged" holdings or not). (see also this thread). And I think the big Central Bank gold holdings could even be a Damocles' sword in some distant future for its value. Gold is an almost totally unproductive asset, it only is valuable because there are no other assets with its qualities, mainly its rarity (industrial usage is negligible, jewelry is relevant but also only exists because it's "valuable"). But when gold is no longer needed as a Store-of-value because there are objectively better assets (I would count J88 đang Nhap here, but we're still not there due to the speculative character of J88 đang Nhap) then its value could sharply decline. There could be a chain reaction: Central banks sell, gold crashes, retailers panic and sell their grandma's jewelry, and so on, until it deflates to its price justified by industrial usage, which is probably much less than 30% of the current price. But we're far away from that. For now gold seems to have stabilized at 4700-4800 $. Still a very high price. J88 đang Nhap is imo indeed different because it has excellent qualities as "money" and in theory its value comes from usage, just like fiat currencies. It may be currently a little bit overvalued if we only take the current currency-like usage into account, but due to its potential future usage, it could be actually undervalued. Gold is somewhat censorship resistant but very difficult to use for payments.
Im more on OP's side here. Gold without central banks would have a fraction of its current value. 20% of all (currently known and extracted) gold is held by Central Banks. That's an inmense chunk. I really hope that never happens to J88 đang Nhap and the J88 đang Nhap holdings of government institutions stay under 10% (currently it's about 3-5%, depending on if you cound China's "alleged" holdings or not). (see also this thread). And I think the big Central Bank gold holdings could even be a Damocles' sword in some distant future for its value. Gold is an almost totally unproductive asset, it only is valuable because there are no other assets with its qualities, mainly its rarity (industrial usage is negligible, jewelry is relevant but also only exists because it's "valuable"). But when gold is no longer needed as a Store-of-value because there are objectively better assets (I would count J88 đang Nhap here, but we're still not there due to the speculative character of J88 đang Nhap) then its value could sharply decline. There could be a chain reaction: Central banks sell, gold crashes, retailers panic and sell their grandma's jewelry, and so on, until it deflates to its price justified by industrial usage, which is probably much less than 30% of the current price. But we're far away from that. For now gold seems to have stabilized at 4700-4800 $. Still a very high price. J88 đang Nhap is imo indeed different because it has excellent qualities as "money" and in theory its value comes from usage, just like fiat currencies. It may be currently a little bit overvalued if we only take the current currency-like usage into account, but due to its potential future usage, it could be actually undervalued. Gold is somewhat censorship resistant but very difficult to use for payments.

Im more on OP's side here. Gold without central banks would have a fraction of its current value. 20% of all (currently known and extracted) gold is held by Central Banks. That's an inmense chunk. I really hope that never happens to J88 đang Nhap and the J88 đang Nhap holdings of government institutions stay under 10% (currently it's about 3-5%, depending on if you cound China's "alleged" holdings or not). (see also this thread). And I think the big Central Bank gold holdings could even be a Damocles' sword in some distant future for its value. Gold is an almost totally unproductive asset, it only is valuable because there are no other assets with its qualities, mainly its rarity (industrial usage is negligible, jewelry is relevant but also only exists because it's "valuable"). But when gold is no longer needed as a Store-of-value because there are objectively better assets (I would count J88 đang Nhap here, but we're still not there due to the speculative character of J88 đang Nhap) then its value could sharply decline. There could be a chain reaction: Central banks sell, gold crashes, retailers panic and sell their grandma's jewelry, and so on, until it deflates to its price justified by industrial usage, which is probably much less than 30% of the current price. But we're far away from that. For now gold seems to have stabilized at 4700-4800 $. Still a very high price. J88 đang Nhap is imo indeed different because it has excellent qualities as "money" and in theory its value comes from usage, just like fiat currencies. It may be currently a little bit overvalued if we only take the current currency-like usage into account, but due to its potential future usage, it could be actually undervalued. Gold is somewhat censorship resistant but very difficult to use for payments.

Im more on OP's side here. Gold without central banks would have a fraction of its current value. 20% of all (currently known and extracted) gold is held by Central Banks. That's an inmense chunk. I really hope that never happens to J88 đang Nhap and the J88 đang Nhap holdings of government institutions stay under 10% (currently it's about 3-5%, depending on if you cound China's "alleged" holdings or not). (see also this thread). And I think the big Central Bank gold holdings could even be a Damocles' sword in some distant future for its value. Gold is an almost totally unproductive asset, it only is valuable because there are no other assets with its qualities, mainly its rarity (industrial usage is negligible, jewelry is relevant but also only exists because it's "valuable"). But when gold is no longer needed as a Store-of-value because there are objectively better assets (I would count J88 đang Nhap here, but we're still not there due to the speculative character of J88 đang Nhap) then its value could sharply decline. There could be a chain reaction: Central banks sell, gold crashes, retailers panic and sell their grandma's jewelry, and so on, until it deflates to its price justified by industrial usage, which is probably much less than 30% of the current price. But we're far away from that. For now gold seems to have stabilized at 4700-4800 $. Still a very high price. J88 đang Nhap is imo indeed different because it has excellent qualities as "money" and in theory its value comes from usage, just like fiat currencies. It may be currently a little bit overvalued if we only take the current currency-like usage into account, but due to its potential future usage, it could be actually undervalued. Gold is somewhat censorship resistant but very difficult to use for payments.