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The odds of gold being completely worthless 5 years from now are rather lower than the odds of BTC being completely worthless 5 years from now.
by jpatokal 10y ago
The odds of gold being completely worthless 5 years from now are rather lower than the odds of BTC being completely worthless 5 years from now.
- DoctorBit 10y agoThat's why the market cap of bitcoin is 1/1000 the market cap of gold - to compensate for that risk.
- alex_young 10y agoWhy? Gold has the same basic economic proposition: * Mined at a steady and predictable rate * Ecologically destructive * Valued because it is hoarded * Hoarded because it is valued
- jrockway 10y agoCan you plate Bitcoins on to metals to produce a layer that doesn't corrode or oxidize? Because gold is pretty good at that.
- wcoenen 10y agoSpace mining could have some interesting effects on the gold market, assuming it can be done profitably. The asteroid 433 Eros alone likely contains more gold than was ever mined on Earth. But that indeed won't happen within 5 years.