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If you only look at scarcity gold should be 6,55x more valuable today when 1.600.000 tonnes of silver has been mined vs. 244.000 tonnes of gold. I don't know w
by bullen 5y ago
If you only look at scarcity gold should be 6,55x more valuable today when 1.600.000 tonnes of silver has been mined vs. 244.000 tonnes of gold.
I don't know what the mined quantities where back then but 1:10 seem arbitrary, maybe because we have 10 fingers like everything else (decimal)?
The ratio is today 1:80, an order of magnitude!
Oxidation is that important?
- woleium 5y agoI think it's more to do with the reduced availability of silver back then.