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Uh, yes I know that. My core point is that Bitcoin and gold are equally rare, not that gold is somehow not rare. Bitcoin might be considered "rarer" to the ext
by morgante 11y ago
Uh, yes I know that. My core point is that Bitcoin and gold are equally rare, not that gold is somehow not rare.
Bitcoin might be considered "rarer" to the extent that the rate is pretty much fixed. It's not trivial to double the overall mining rate, whereas gold mines could substantially ratchet up production if they wanted to. (If a gold miner increases his mining rate, it doesn't affect the rate of other miners. But if a bitcoin miner suddenly brings a lot more computing capacity online, it's going to decrease the mining rate of other miners.)