Gold, platinum, palladium, silver, etc. are all heavily used in electronics and technology for their conductive and other special properties. Not to mention being used in fuel for spaceship/satellite launches. Precious metals obsolete... don't make me laugh
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@bescouted did point out its practical value tbh. I can see that the OP could have some point on cryptos infringing on the precious metal market. However, in my personal opinion, to deem them obsolete seem too hard to me. I think their long track-record and being something physical (with a practical use) will make them keep a good portion of their value as a medium on top of the direct industrial demand.
Should the world situation turn really ugly, physical preciouse metals is a safer than bet than also cryptos in my book. Guess it comes down to once faith in humanity, and knowlendge of history...
I believe what was being said here is gold being obsolete as an investment security. Nobody is arguing gold's value as a utility for it's properties.