Gold and Bitcoin

[emmybd]

Gold has always been one of the best assets to have. Many countries have also been holding gold as a reserve. It has always been considered as a reliable asset. There is no match between gold and bitcoin. Because bitcoin is quite new, a lot of people have not heard about it yet. So Bitcoin has a long way to go to be considered a safe asset.

[Legion]

Gold has always been one of the best assets to have. Many countries have also been holding gold as a reserve. It has always been considered as a reliable asset. There is no match between gold and bitcoin. Because bitcoin is quite new, a lot of people have not heard about it yet. So Bitcoin has a long way to go to be considered a safe asset.

Gold is indeed very good for long-term storage, but do we realize that gold is a very ancient currency? Gold has been around since the time of the pharaohs, even long before the glory of the pharaohs, gold has been used until now gold is still widely used and is still an entity with a price. selling very expensively, the problem is, what is the total supply of gold in the world? Can gold be created again? Why does gold have such a high selling price if it can be regenerated?

[0t3p0t]

Gold has always been one of the best assets to have. Many countries have also been holding gold as a reserve. It has always been considered as a reliable asset. There is no match between gold and bitcoin. Because bitcoin is quite new, a lot of people have not heard about it yet. So Bitcoin has a long way to go to be considered a safe asset.

Gold is indeed very good for long-term storage, but do we realize that gold is a very ancient currency? Gold has been around since the time of the pharaohs, even long before the glory of the pharaohs, gold has been used until now gold is still widely used and is still an entity with a price. selling very expensively, the problem is, what is the total supply of gold in the world? Can gold be created again? Why does gold have such a high selling price if it can be regenerated?

Yeah that is why it has huge which is the highest market capitalization in the history as it has been used in jewelries, electronics, currency and more. It's usage and importance I mean demand to humans is what makes it expensive even if it has also huge supply.

[Peter90]

Gold is indeed very good for long-term storage, but do we realize that gold is a very ancient currency?

Yes gold is very ancient, history has shown that gold is high quality money,
and it will keep being used as money, as thanks to modern technology gold can be used as a digital currency: Gold-Backed Stablecoins

[DrBeer]

The most interesting thing about gold is its distribution of uses. By 2020 (I don't have the most current data but I don't think it has changed much in a couple of years) the distribution was as follows :
- Jewelry - 47%
- Industry - 8%
- ETF - 12%
- Monetary - 9%
- Bullion and coins - 24%

Total gold mined by mankind - 208874 tons
Produced after 1950 - 2/3 of the total was mined.

That is, the main "reserves" or almost half of all "marketable" gold - on the hands of private individuals in the form of jewelry, only 1/4 - in the form of gold reserves of countries.
Plus we see that technological progress allows to mine more gold. I assume that new technologies will allow to mine it more, at the expense of extraction from previously unavailable or unacceptably expensive resources