The gold production increased, there are huge amount of gold mined out from china during the last year. But for bitcoin production rate is always fixed
Gold inflation is still much lower than bitcoin's. Gold supply is increased only by about 1.5% per year, while for the next years we are still going to have 10% more bitcoins per year: https://bitcointalksearch.org/topic/chart-bitcoin-inflation-vs-time-130619
Not exactly, you can not measure the inflation by production vs total supply, since most of the gold/coins are hoarded and never goes into circulation, the price is only decided by the daily market supply and demand (otherwise now everything in US should have 4x price since FED has increased the total money supply by 4 fold since 2008, in reality there is almost none inflation because most of those money went into banker's pocket and never circulated)
Currently bitcoin has a production rate of 3600 coins a day, that is fixed, no one can change that, even if it jumps in a 10 day period, the difficulty will increase to maintain that rate. But for gold, you can increase the amount of mine around the globe to dig out more and more gold every day. The total gold on earth has a fixed supply, but so far human has only mined a very small percentage of it near the surface of the earth and I doubt that it will continue, since the use of gold is getting less and less, many modern jewelry use sophisticated coating technology that does not depends on gold but provide much better looking
Anyway gold's price is mostly decided by the mining cost, but it is not the cost of digging gold rose that high, it is the cost measured in fiat money rose, which means fiat money are losing value quickly
Yup. And who knows what the total supply of gold can be? We cant know for certain. Any new gold mining discoveries can modify the price, with BTC it's fixed and transparent, whereas we do not know what goes inside the inner circles of top gold mining business, wh
ereas everyhing it's clear in the blockchain with BTC.