Topic: There are more gold than Bitcoin - page 2. (Read 762 times)
This is why Bitcoin will always be more valuable than Gold due to the sheer amount of gold. We haven't even discovered all the gold on our planet yet let alone others.
I'm not impressed. When two neutron stars collide and produce a stash of bitcoin, then I'll be impressed.
that was exactly what I was think reading the first post. Dammit I’m too late posting such good comments. $100 Octillion dollars, worth of the gold produced in matter of seconds, I see many topics people talk about gold, not only the stars in distance but
Our star also could produce gold, moon has gold, more gold could be mined every day. you could store $2 billion worth in Bitcoin on a file with less
Than 1MB storage, but if you have $2 billion in gold, how would you store them?
Our star also could produce gold, moon has gold, more gold could be mined every day. you could store $2 billion worth in Bitcoin on a file with less
Than 1MB storage, but if you have $2 billion in gold, how would you store them?
Unfortunately our star, the Sun can not produce Gold. Gold is produced in a Supernova explosion, and our Sun will not become a supernova. Elements until Fe-Cu are being produced in a Star like our Sun, it is necessary a supernova explosion to produce Gold. Traces of Gold on Earth and of other elements after Fe-Cu are here from a supernova explosion that preceded the Sun.
I would say that as scientists discovered gold somewhere else in the universe, it is also very probable that many other civilizations do exist. Some of them have the same knowledge as we do, and it is probable that they have their bitcoin. Because of this the amount of bitcoin in the Universe is probably not limited to 21M.
As we prefer the bitcoin to the gold, they probably prefer their bitcoin to the gold.
As we prefer the bitcoin to the gold, they probably prefer their bitcoin to the gold.
What good would that discovery bring if we can't get the gold anyway? There is really no reason to hate on gold as it is not against bitcoin, and nor is bitcoin against it.
$100 Octillion dollars, worth of the gold produced in matter of seconds, I see many topics people talk about gold, not only the stars in distance but
Our star also could produce gold, moon has gold, more gold could be mined every day. you could store $2 billion worth in Bitcoin on a file with less
Than 1MB storage, but if you have $2 billion in gold, how would you store them?
Our star also could produce gold, moon has gold, more gold could be mined every day. you could store $2 billion worth in Bitcoin on a file with less
Than 1MB storage, but if you have $2 billion in gold, how would you store them?
I do not know why people are still comparing gold and Bitcoin like it's never dying. Physical and Digital currencies are both different.
If you are saying that Gold is INFINITE then it's rarity will be decreased and it will not be considered as one of "rare earth metals" because of "INFINITE SUPPLY" of Gold. I think Gold will not retain it's value if it will not be rare and some poster here already said that NASA will not just go there to get that Gold it will also cost of millions for that another project.
If you are saying that Gold is INFINITE then it's rarity will be decreased and it will not be considered as one of "rare earth metals" because of "INFINITE SUPPLY" of Gold. I think Gold will not retain it's value if it will not be rare and some poster here already said that NASA will not just go there to get that Gold it will also cost of millions for that another project.
People comparing bitcoin with the gold due to the value and long term surviving in the world. So how we all expect bitcoin to survive in the world for the long time. In Feburary we find the bitcoin value compare with the one ounce of gold.
Now 2 ounce of gold is compare with the 1 bitcoin. Value movement million time faster than gold.
You are right because there are just 16m bitcoin in circulation but there are 21m gold in circulation. But every emerging market has got a lot of prospect for investment. The price of both differs and due to the embracement of bitcoin, the price is now higher than that of gold. And it doesnt really matter because gold is for investment purely while bitcoin is both for investment and solving of a payment problem.
i think it is a fact that gold is much more than bitcoin, but i think we should also take into account,how are we comparing gold to bitcoin, since we are looking at gold's price per ounce, per karat, per bars and we as for bitcoin, we use 1 bitcoin, in order to compare it to fiat, however if we are talking about the resources, gold is also being mined, however gold is underground and bitcoin is digital. though there are a lot of gold, i think if you own one today, it would be hard trying to exchange it to fiat, if you go to a pawnshop, they buy your gold, but not on a fair price for you, but if we say that there is much surplus of gold, it would not have a value, anyone could just easily get gold, that's why governments keep a lot of gold in their reserves, just like what they did with diamonds, still we need to get numbers here, for us to determine the amount of gold that is out there, even the ones that are kept.
Could you provide a source on this? It's pretty interesting.
This discovery theoretically could make the value of gold plummet, but it doesn't look like that large stash is accessible, so it cannot be considered a part of our supply. We don't even know if it's ever going to be possible for our technology to progress enough to be able to cover that distance, so the stash will likely stay out of earth forever.
Also, the value of gold has no bearing on the value of Bitcoin as far as I know. They're not in direct competition as there are lots and lots of other assets investors can get into if gold collapses. The very point of investing in gold is for your money to be safe, as it is incredibly stable, and Bitcoin is anything but. You don't have to choose between them. It's probably even smarter to put your money on both.
This discovery theoretically could make the value of gold plummet, but it doesn't look like that large stash is accessible, so it cannot be considered a part of our supply. We don't even know if it's ever going to be possible for our technology to progress enough to be able to cover that distance, so the stash will likely stay out of earth forever.
Also, the value of gold has no bearing on the value of Bitcoin as far as I know. They're not in direct competition as there are lots and lots of other assets investors can get into if gold collapses. The very point of investing in gold is for your money to be safe, as it is incredibly stable, and Bitcoin is anything but. You don't have to choose between them. It's probably even smarter to put your money on both.
I do not know why people are still comparing gold and Bitcoin like it's never dying. Physical and Digital currencies are both different.
If you are saying that Gold is INFINITE then it's rarity will be decreased and it will not be considered as one of "rare earth metals" because of "INFINITE SUPPLY" of Gold. I think Gold will not retain it's value if it will not be rare and some poster here already said that NASA will not just go there to get that Gold it will also cost of millions for that another project.
If you are saying that Gold is INFINITE then it's rarity will be decreased and it will not be considered as one of "rare earth metals" because of "INFINITE SUPPLY" of Gold. I think Gold will not retain it's value if it will not be rare and some poster here already said that NASA will not just go there to get that Gold it will also cost of millions for that another project.
Although the amount of gold is huge but gold will always be valuable because there are real usage in life, gold can be used for a lot of purpose beside of investment, but the price will lose with bitcoin, with limited supply, bitcoin will become more valuable than gold, but it is good to know that they found out new sources of gold, I have been thinking to keep some for investment, hopefully this finding can make the price lower
How can they even quantify this? what is the equivalent of one bitcoin in gold? is it 100 grams of gold or what? I still don't think this argument makes sense because bitcoin is prely virtual and we can't tell if the entire 21 million created will be even worth a kilogram of gold in weight.
I personally don't know either, as I really don't like people comparing the price of BTC to the price of gold. Though I assume people are referring to 1 kilo of gold because bitcoin already surpassed the prices of an ounce of gold($1,274.30) and a gram of gold($40.97); Whereas the price of a kilo of gold is currently at $40,969.67.
Source: https://www.apmex.com/spotprices/gold-price
Although the amount of gold is huge but gold will always be valuable because there are real usage in life, gold can be used for a lot of purpose beside of investment, but the price will lose with bitcoin, with limited supply, bitcoin will become more valuable than gold, but it is good to know that they found out new sources of gold, I have been thinking to keep some for investment, hopefully this finding can make the price lower
How can they even quantify this? what is the equivalent of one bitcoin in gold? is it 100 grams of gold or what? I still don't think this argument makes sense because bitcoin is prely virtual and we can't tell if the entire 21 million created will be even worth a kilogram of gold in weight.
Although the amount of gold is huge but gold will always be valuable because there are real usage in life, gold can be used for a lot of purpose beside of investment, but the price will lose with bitcoin, with limited supply, bitcoin will become more valuable than gold, but it is good to know that they found out new sources of gold, I have been thinking to keep some for investment, hopefully this finding can make the price lower
cant really compare
Gold only has value because it has a finite supply. It is rarer than other metals so if there is an infinite supply of it it's value will be alot lower. Also the other side of the universe isn't somewhere we have been yet. We still struggle to set up properly in space.
Still trying to figure out your post. You mean the bitcoin gold doesn't have 21M supply? or am I read incorrectly?
Lol, I instantly thought the same thing.
At OP: Thats pretty intense to think about, I mean Bitcoin already costs way more than gold and its gonna continue growing. Its only the beginning wait until there is only 1 Million Bitcoins left
Bitcoin has only 21 millions of coins in the total coin circulation, but actually, there are only 16 millions and a few numbers more on circulation because they haven't been mined.
But yes, there is much more gold in the world, and if you mean in kilos, they can be hundreds of millions, and in onzes, i dont know how i can count that amount.
It is not a good comparison, i dont know why have you created a thread for this kind of purpose.
But yes, there is much more gold in the world, and if you mean in kilos, they can be hundreds of millions, and in onzes, i dont know how i can count that amount.
It is not a good comparison, i dont know why have you created a thread for this kind of purpose.
I'm not impressed. When two neutron stars collide and produce a stash of bitcoin, then I'll be impressed.
Gold has a bigger supply but you could argue the demand is much higher than that of Bitcoin at the current time
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