It is far less used, because it is expensive. Everyone would rather use Au instead of Ag, Sn and some others but the price is prohibitive.
BTC and Au are two different asset classes which not exclude each other as they might be even complementary. Without electricity and internet, BTC is useless but if you want to transport bigger sums than BTC is better than Au. Each has it's perks.
Posted Using LeoFinance Beta
And yeah I haven't really though about gold being more used if it was cheaper at least compared to other metals. But I think Silver still has some unique qualities like being able sterilize, doesn't it?
Posted Using LeoFinance Beta
Ag is the best conductive material, but is not as corrosive resistant as Au. Ag is also tarnishes, losing it's conductive properties where Au doesn't. Au is also an antibacterial and not toxic material and is used in medicine for this, even if we have cheaper alternatives.
As a fun note, Au is used as a lubricant in the industry sometimes :)
Posted Using LeoFinance Beta
lol, I just always took the 2% of gold mined is used in the industry for granted and never really thought about it. Guess there will be a significantly rising demand for gold in the industry as well.
Thanks for commenting your take!
Posted Using LeoFinance Beta