5 ms·
It is more rare than gold and getting more rare every 4 years. What is the current supply of gold and what will it be in 2050?
by LAMike 2y ago
It is more rare than gold and getting more rare every 4 years.
What is the current supply of gold and what will it be in 2050?
- nadermx 2y agoGold has a utility, used in a large swath of electronics. Can always be sold to make something. Bitcoin can only be sold if there is a fiat currency trading in it
- desumeku 2y agoElectronics didn't exist for the thousands of years that gold was used as currency. The fact is, it only has most of the value that it does because it was rare, malleable, particularly shiny, and because metallism was simply the easiest way (or at least one of the easiest ways) to invent the concept of currency and a monetary system.
- nadermx 2y agoEven then it had a utility as jewlery. Bitcoin fails on that.
- deleted 2y ago[deleted]
- throwawaymaths 2y agoyou don't want your currency to be useful though. the value inherent in a currency is its ability to be verified without trusting the counterparty.
- heurist 2y agoBitcoin's utility is that you can both hold it in your hands and send it across the world in 10 minutes with no intermediaries. Can't do that with gold.
- 2030ai 2y agoIt is getting less less rare every 4 years.
- LAMike 2y agoIn what way? I assume you know how the minting of coins work with miners
- elevaet 2y agoThere is an infinite supply of computer algorithms. Gold is an element.
- block_dagger 2y agoYour comment indicates that you fundamentally misunderstand BTC. I recommend reading Broken Money by Lyn Alden.
- elevaet 2y agoNo, I get it, thank you very much. Early adopter of BTC here, I've read the whitepaper and all that, sodl when I realized what an energy pig it had become. The only thing that separates BTC from all the derivative shitcoins is hype and stories we tell about it. Bitcoin is itself interchangeable with an infinite number of related algorithms/schemes. Gold extraction definitely has its problems, but it's a fundamental element of the universe. In 100 years, I know which one will definitely still hold value.
- LAMike 2y agoAre you going to stop using AI because it consumes too much energy?