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LAMike | 1 year 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?

discuss

order

nadermx|1 year ago

Gold 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|1 year ago

Electronics 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.

heurist|1 year ago

Bitcoin'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.

throwawaymaths|1 year ago

you 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.

elevaet|1 year ago

There is an infinite supply of computer algorithms. Gold is an element.

block_dagger|1 year ago

Your comment indicates that you fundamentally misunderstand BTC. I recommend reading Broken Money by Lyn Alden.

2030ai|1 year ago

It is getting less less rare every 4 years.

LAMike|1 year ago

In what way? I assume you know how the minting of coins work with miners