Topic: BTC is scarcer than gold. - page 4. (Read 2073 times)

I cannot comprehend some calculations of very detailed prices nor value but there’s one thing I am sure of and it is always scary if you have a lot to lose someday. Taking big step is always a courageous act that’s why we should invest of what are feeling that gives us comfort and security. If you want a physical investment that can be used anytime, I’d go for gold because it is very convenient because of its always appraising price. But if we are going to talk about bitcoin, it is an investment where you will need some extra cautions and positive thinking because investing in crypto world takes a lot of time before you’ll cherish every moment.

proof?

The human species will migrate to another solar system, along with BTC.

lets clarify things

bitcoins price is not dependant on the scarcity of bitcoin or the rarity or the network supply(coin in circulation)

bitcoins market price has nothing to do with coins hoarded on independent private keys.. but purely on the coins inside a market/exchange

there is more impact on the price based on the amount of coin offered WITHIN THE MARKET.. not the network.
EG
if a buyer only has $400 in 2013 but a seller is offering 1btc. then bitcoin is worth $400/btc in 2013. where the circulating supply of the network is only 12mill coins..

if a buyer only has $400 in 2022 but a seller is offering 0.02btc. then bitcoin is worth $20k/btc in 2022. where the circulating supply of the network is 19mill coins..

as you can see there is more coins in circulation in 2022 than in 2013 (19m vs 12m respectively) yet the price is not reflecting the amount of coins in the network

..
the other thing is scarcity is about how common/available/able to get from nearby peoples/services something is
nearly everyone has a bit of gold in their possession.. dental fillings, device circuitry, jewellery. yet less than 10% of the world has btc

there might be
244,000 tonnes of gold = 244m kg = 244billion grams of gold to share
there might be 21m btc = 2.1quadrillion sats to share.

2,100,000,000,000,000 sat units
vs
244,000,000,000 gold units
yet gold is more available in everyones home, its more common and reachable, thus less rare/scarce

bitcoin is not in everyones possession thus is less common thus more scarce, even though there are more available shareable units

when the sun becomes a red giant, bitcoin here on earth will go away. that doesn't mean bitcoin won't go away sooner though.

Nobody said that forks of bitcoin have value because of scarcity.

This is clearly relevant I rather say. Supply and demand determine the market value. Limiting supply to a finite number with a programmed inflation, regardless of the demand, influences the market value.

Um, proof?

when bitcoin is long gone there will still be gold. gold can't be destroyed. bitcoin can. bitcoin can be lost forever. gold can't be. just because something is scarce doesn't imply it is valuable. not a good argument.

Scarcity does not decide price and value. Utility does.

You can create an altcoin with less total supply than Bitcoin or gold but it does not mean your altcoin will automatically has a much higher price than either gold or Bitcoin. Value does not decide by total supply.

But Bitcoin has a transparent total supply and it is unchanged. Gold total supply is unknown and can be changed.

I agree with your opinion that the price of bitcoin often fluctuates because the price of the currency bitcoin falls deeper while gold is more stable so it is very inappropriate to compare bitcoin to gold.

you are saying right.BTc mining remaining less than 10 percent.After that all bitcin circulate in the market.But as comared gold prices are  going to high day by day.A wise person choose gold because there is no chances of losing asset and risks involved with it.

Yup agree with your point both mind and heart.

It should be understood that the price of bitcoin changes much more often than the price of gold. So it’s worth understanding that investing in bitcoin differs much more noticeably.

Bitcoin will lead us to Dyson sphere (Type 2 civilization).

Few people understand this, even in the BTC community...

We need to stop thinking that old school energy production is the only thing we can achieve as a species.

Many people compare because they threat both as an asset but this two is incomparable because we know that they have different attributes and also they have different usage so its not really good to see to release a comparison because everyone will give their different opinions towards this. But if I'm the one which I gonna choose among this for thinking that its a safe heaven I will choose gold because volatility of bitcoin is kinda scary but in terms of profitability its undeniable bitcoin is ideal for this.

And every copy of Bitcoin, with a different starting seed, is also scarcer than gold. That doesn't mean it has value. Anyone can copy Bitcoin by just changing a few parameters in the source code. The value of something is not determined by rarity, that is irrelevant, but rather consumer demand. Technically any 256 bit random number you generate is unique in all the world. Good luck, however, selling it.

Exactly mate! we don't necessarily compare gold and bitcoin, if possible it's best to invest in both instead of choosing either. Bitcoin is really good and worth the investment because of the profit it makes and its utility but there is no denying that bitcoin is still a new, highly volatile asset class and more difficult is that bitcoin is being disliked by governments so there will still be unforeseen risks. So diversify your portfolio and don't put it all in one basket.

are you stupid?

1. The price has only gone up for gold

2. theres over 15billion smart devices using min 0.1g of gold each that's 2,000tons, and how often do you buy a new phone, how often do you recycle your old one?
out of 244,000tons.  2,000 tons is used every 10years, less than 20% of it gets recycled. 244,000 isn't even the real number of available gold, and 1,600 tons of it is thrown away every 10years, just from smart devices.

i'll just copy paste the uses of gold....


Wealth protection and a financial exchange
Decoration, jewellery and medals
Electronics
Space exploration   (satellites)
Medicine and dentistry   (micro-particles are being used in the treatment of some cancers)  ( injected as a treatment for Rheumatoid arthritis and muscle damage)


bitcoin just crashed to the price is was 2years ago, and you really just said bitcoin is a better performing asset?

(we're moving to the more technology stuffs) you can't even mine btc without the gold used in your cpu/gpu.

(Bitcoin is the future since it can be used for both store a value and as a currency) All currency holds a value when you give it a trade pair, and even when you don't, every currency still holds a value, it's called a denomination.
This is the dumbest thing ive ever read in my long life of strolling the internet. I truly wish i could give you some kind of award.

1. "244,000 metric tons of gold has been discovered to date, 55,000 tons of gold are left. " most of the gold is under the earths mantle, we will find ways to extract it, way before we're "mining asteroids"

2. Gold is used for alot of devices, billions of phones, pcs, gaming consoles etc, the cpu's, and gpu's used to mine bitcoin, there would be no bitcoin without gold.

3.All of these altcoins are just an improved version of bitcoin, pros of some of these alternatives are, faster transactions, more private transactions, cheaper transactions, not PoW, more features, etc.
The reason people are using bitcoin is, kinda like facebook, alot of people hate it, and pref the other social media platforms, but they never leave because those others don't have every person on the planet already using it. so they stick with the crappy version.
Basically bitcoin is like a visa card lets just say visa has higher fees, and the online transactions are always pending, And some altcoin that's better than bitcoin is a discover card, it has lower fees, and instant online transactions. but like everyone else
you don't apply for the discover card because no stores accept it.

4. Most importantly. Theres a reason the creator of bitcoin created bitcoin with 8 decimal places, that's 2,100,000,000,000,000 satoshi's , so it's really not scarce is it?

5. (BTC is scarcer than gold. I think one day 1 BTC will enter the $xxx,xxx zone then the $x,xxx,xxx HODL BTC) Theres countless reasons someone could speculate the price of bitcoin skyrocketing,
but this is the dumbest, The supply cap is what you think gives bitcoin it's value? really?

6. (There is no Bitcoin in the whole Universe, except on Planet Earth.) Why would you even say something so ridiculous? You think no one knows that? or do you think aliens are going to come buy it up and make it scarcer? is that whats going to contribute to the million dollar value? lol

7. Global warming is getting worse, it's more environmentally friendly to chop down trees, and print paper money lol, most regions it's not even profitable to mine bitcoin, most people who are doing it, are using government subsidies to turn a profit.
that's like using 100$ in electricity, and getting 90$ back. Hurting the planet, and screwing tax payers. Bitcoins blockchain doesn't work without miners pushing through the transactions. And the difficulty is only rising. It says the last bitcoin will be mined in 2140
do you think it's sustainable?

But bitcoin could be worth a million each, that doesn't mean everyone who uses it will have a million dollars to pay $10+ fees, difficulty rises, so does the cost to mine blocks.

But more likely this is what will happen. bitcoin just crashed to the price it was 2years ago, sooner or later it's going to crash so low, that miners will be losing insane amounts trying to mine blocks, the network will get so congested people wait days on their transactions,
And this will cause all kinds of panic sells, the price will spiral down to the point bitcoin won't recover. And this is when everyone will universally agree on an altcoin that will replace bitcoin as the standard crypto currency. unless the price gets high, and stays high before this happens.

Gold is not that rare indeed:

https://www.reddit.com/r/Bitcoin/comments/vcb5gb/31_million_tons_of_gold_deposits_found_in_uganda/

Yeah it's ture! Bitcoin is scarcer than gold. but the price of gold is more stable than that of Bitcoin.
https://xtrading.com/market-data/