also hurt gold’s alleged scarcity factor and it is well known that there are massive gold deposits under the ocean floor, and within asteroids in space as well. However, at present, humans cannot access the gold in space or under the depths of the ocean. Gold is still considered scarce despite these elements. A U.S. Geological Surveysays there’s roughly 50,000 tons of gold under the earth’s surface, but the estimate is assessed as “a moving number.
Gold and Fiat Currency Issuance Rates Are Not Reliable, While Bitcoin Is a Far More Predictable Monetary Asset As far as Bitcoin’s monetary supply is concerned, the public knows for a fact that there will only be 21 million bitcoin. With gold we know there’s roughly 20% of the earth’s gold remaining, but because some methods of mining are uneconomical right now, there’s a chance they could become profitable in the future. Meaning, there’s a chance that technology advances enough to where gold miners can access the precious metals buried under the ocean floor or in asteroids out in space.
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And as for me it’s still better to hodl BTC and buy dips on bfx.
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