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.
  10. leo25

    leo25 Well-Known Member Silver Stacker

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    Is this meant to be a bot? :confused: Feels very generic and smashed together.
     
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  11. 66rounds

    66rounds Well-Known Member Silver Stacker

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    It is and I reported. Hidden hyperlink in his text.
     
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  12. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    1g of gold $60. 1g of electrons worth of bitcoin? Your answer. :D
     
  13. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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  14. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    As it's turned out, BTC was underpriced. ;)
     
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  15. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Bitcoin is finite..... 21 million
    Gold is unlimited with trillions of tons more to mine in space.

    Maybe not in 20 years maybe 50 years who knows but definitely by 100 years, space mining will be normal

    Note: just because there are trillions of tons of gold in space, it doesn't mean it is worthless. But it does mean soon at a given price and time it is practically unlimited
     
    Last edited: Feb 12, 2021
  16. Brendio

    Brendio Active Member

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    1g of electrons is 1.09*10^27 electrons. That's a lot of electrons. How many sats is one electron worth?
    :)
     
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  17. 66rounds

    66rounds Well-Known Member Silver Stacker

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    How do we know there isn't a planet with avid crypto fanatics who have been mining Bitcoin for millions of years without a 21 million coin cap?

    If you think this statement is preposterous but your statement about unlimited gold in space for mining isn't, then I have a couple of bridges and a nice hotel to sell you in Sydney.

    From 1969 until now we haven't "returned" to the moon. We will not see industrial level space mining ever occur in the entire lifespan of humanity.
     
  18. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    If there was more than 21 million btc, it would crash due to breaking the one fundamental truth about btc.

    I'm sure people in 1920 never thought of going to the moon, let alone satelites
     
  19. 66rounds

    66rounds Well-Known Member Silver Stacker

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    And people in 1920 were probably smart enough to realise it is bullshit too
     
  20. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Bha hbhbhahbbhhaaaaaaaa really
     
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