Is the price of gold higher than Bitcoin?

Discussion in 'Digital Currencies' started by slavaja, Feb 22, 2020.

  1. slavaja

    slavaja Well-Known Member Silver Stacker

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    I had this thought last night how the price of gold is unfairly compared to Bitcoin. I think we need to recapitalize gold to give it a fair comparison because way hold is priced is too diluted.

    There is 21,000,000 units of Bitcoin and roughly 170,000 tonnes of gold ever mined. So we need to convert 170,000 tonnes into 21,000,000 units of gold which gives us roughly 8kgs per unit. Now 8kgs of gold is roughly $416,000.
     
  2. heartastack

    heartastack Well-Known Member Silver Stacker

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    You should be looking at total market cap to compare. Depending on your sources you could make it simple and say the total value of above ground silver (investible) is about a trillion dollars worth. Thereby total crypto value currently is about 1/3 silver. The market cap of gold is obviously a lot higher. Choosing what units to trade with is kind of irrelevant to value - btc is virtually infinitely divisible to 1 satoshi.

    It looks like you’ve come up with a gold/btc ratio though.. that could be useful like the GSR but quite a novel metric right now
     
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  3. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    So are we saying gold is overpriced or BTC is underpriced?
     
  4. dozerz

    dozerz Well-Known Member Silver Stacker

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    try sending gold over the internet.
     
  5. SilverDJ

    SilverDJ Well-Known Member

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  6. SilverDJ

    SilverDJ Well-Known Member

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    What if, it's not an OR...

    [​IMG]
     
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  7. SilverDJ

    SilverDJ Well-Known Member

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    Yes, it would be really neat if someone was tracking this.
     
  8. SilverDJ

    SilverDJ Well-Known Member

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  9. dozerz

    dozerz Well-Known Member Silver Stacker

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    mmm....shiney! likes this.

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