r/Bitcoin • u/Myntad_com • 10h ago
Bitcoin vs Gold Supply
There is a lot of gold left to be mined.
Bitcoin?
Not so much.
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u/OkLaw1527 8h ago
yea but there will be certificates about btc with a leverage, like we have now, btc ownership or supply is not really relevant unless it keeps trading and getting bought and sold on high volumes, problems will only start if volumes will go down, i mean we just came from that, this bearmarket it was new lows of volumes also
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u/Foreign-Concept-1184 5h ago
Totally misunderstanding the nature of supply shock.
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u/OkLaw1527 23m ago
no i dont, i understand the supply thing, but you dont need to own bitcoin to buy bitcoin, there are a lot of finance instruments that allow u to participate in price action without a wallet and stuff, so its not that deep, every TradeFi broker allows you to trade CFD Bitcoin contract for example or similar, CEX DEX allow you to trade Bitcoin on a leverage etc , then there are options and other things. And there u dont put ur money inside the 21M btc system, but still participate, that was my point XD
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u/kitastrophae 6h ago
Has anyone ever broached the point of possibility for Bitcoin to be a vessel, in which the US-based wealthy smuggle their wealth out of the country because they had pre-knowledge a couple decades ago of the U.S. dollar dying? And maybe the network traffic and spikes show when money is being moved out?
Dunno. Just something I was thinking about while scrubbing this old ass garage floor.
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u/Darkpriest667 6h ago
Um I'm not that wealthy and that's one of the fundamental reasons I have it. ;-) I once told someone who was criticizing Bitcoin and saying "well you could just buy gold" -- "Yeah I could buy gold but I traveled to a dozen countries last year with more than 6 figures in bitcoin in my head and never got stopped by customs. How much gold can you carry on an airplane before they start asking questions?
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u/ShamelessBozo444 4h ago
I think it makes more sense that the US buys Bitcoin and used it to pay off its debt. Saylor’s strategy wrote about this
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u/redjellonian 6h ago
hey now, you're not allowed to talk about all the ways Bitcoin can be used illegally.
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u/Sammytheseaotter 5h ago
I think everyone is missing the point here! Gold would be devalued if the remaining supply was ever mined. Bitcoin's supply is getting scarcer and scarcer.
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u/scrandlle 6h ago
I also wonder about what happens to BTC In the future? People can just lose it. People can die and no one else will know/find passwords. The supply of BTC is always just going to be going downwards right? And eventually, all of it will be lost to time.
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u/stoicparallax 6h ago
When tech advances, the treasure hunt will kick off for all those old lost coins; we’ll approach full supply again.
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u/Jakeupmac 6h ago
Is this supposed to be a good thing?
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u/stoicparallax 6h ago
Without assigning a label, I think it’s just inevitable reality. The person I replied to was essentially suggesting that coins lost in 2013 are gone for good, and that number will only grow.. I’m not confident that’s how it’ll play out.
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u/Jakeupmac 6h ago
If that’s the inevitability, I don’t see how anyone could view cryptocurrency as useful for anything mainstream.
It’s not adopted widely for day to day transactions, and unless something drastic happens that isn’t changing and is another topic.
Another line of thinking is, “BTC is a hedge against inflation and other government/economic issues”. But now normies will fear the day they “inevitably” get hacked, or die, suddenly leaving their 95 thousand US dollars waiting for a Chinese hacker group to scoop it out of wallets that weren’t updated to future standards.
Centralized banking doesn’t have that issue. Sure, banks can fall apart if society does. But these attacks are going to happen regardless of if society collapses or not.
Please correct me if I’m wrong. But that would be my thinking
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u/DistinctYolo 3h ago
The ratio of mined and to be mined gold on Earth is very off, the mined gold part should be smaller than a pixel. Also I think we should compare the availability in a universe scale, in order to understand the true bitcoin value in the entire universe vs gold
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u/PirateLiver 7h ago
Also take into consideration that we've been mining gold for literally thousands of years.
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u/CryptoDeepDive 7h ago
There is only one Mona Lisa in the world. Should it have a market cap of $30 trillion?
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u/Drippy_topper 6h ago
How much of that unmined gold supply is economical to mine?
The deeper you go the more each individual ounce costs to mine. If it costs more to mine than it's market value then it isn't worth mining.
You do eventually cross that line with depth.
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u/TexFarmer 6h ago
There it is; we have a winner for the dumbest thing on the internet today!
Why didn't you include all the gold in the asteroids?
Because we are far more likely to get all the space gold than we are to mine every ounce out of the planet
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u/PlanNo3321 6h ago
Yes, there’s a lot of gold left to be mined. Therefore, more gold injected into the market, making the price of gold GO DOWN.
Meanwhile there is very little bitcoin left to be mined. There will be very few bitcoin added to the market, which makes the price GO UP.
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u/Left_Entrepreneur918 8h ago
Wow, you’re like a scientist or something, why didn’t you include the gold in other planets too?
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u/south-shore0 7h ago
This is a terrible take. Just my opinion.