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today's market cap for BTC is around 158 Billion$. so we're talking about something around 7% of the world supply, "locked in an underground bunker". What's no
by mr_spothawk 8y ago
today's market cap for BTC is around 158 Billion$. so we're talking about something around 7% of the world supply, "locked in an underground bunker".
What's not clear to me: is this just the keys stored underground and clients have access? or is this "cold storage"?
I'd speculate that more than 7% of the world's gold is locked up in bunkers, where it can be accounted for and borrowed against.
Nobody is shocked to know that gold is stored in vaults. Nobody is shouting that the folks buying overpriced coins from stupid mints are going to decimate the world economy with their irresponsible hoarding.
We're all just totally comfortable that, yeah... in a situation where a-bombs start dropping, gold would probably be a functional store of value.
- frockington 8y agoNobody is shocked because at least gold has a historical value and won't dissappear. When the a-bombs start dropping, nobody is going to want a piece of steel with an engraved bitcoin wallet key
- ric2b 8y ago> When the a-bombs start dropping, nobody is going to want a piece of steel with an engraved bitcoin wallet key But they'll want a bunch of a heavy yellow metal? At least the small piece of steel is easier to carry around.