We need a form of currency that is immune to inflation.
Gold mines can be found and new ways to process it implemented. Silver as well. So if the value varies depending on the amount found, it isn't the best basis for a currency.
Bitcoin may not be it, but it certainly is causing ripples. I just dislike how a cheeseburger comes to 0.00006 bitcoins.
Fast food cashiers can barely handle two decimal places. Now they gotta deal with 5? Ugh.
Good point about new mines can be found, there are also areas miners are sitting on until the demand becomes great enough to justify the cost. Then we also have private companies interested in asteroid mining. Japan's successfully brought back a drilling sample from space so it's not as crazy of an idea as it sounds.
I anticipate way into the future we will wrangle asteroids and collide them into Mars.
Then scoop up the remnants and refine it all.
It would be cheaper than Earth Gold because the vast majority of Earth's available gold is stuck in the center of the planet. The most we have access to were from asteroids anyway.
It's a fun idea but I think space mining will largely be other more useful materials. With certain asteroids containing more gold than in known circulation on earth that would WRECK gold holders
Gold is necessary for future electronics. Nothing is as conductive, outside of super-chilled superconductors.
It is pliable, durable, can be flattened to insane thicknesses, super conductive, and when formed in a monoatomic gold chain can interact with hydrogen to turn of its ability to conduct - thereby making one hell of a fantastic micro-transistor.
You can plate and gild with it and even make conductive mirrors out of it that will never tarnish, unlike silver.
Its density means it can take constant cosmic radiation and not break apart. In fact, it can potentially insulate pilots from cosmic radiation.
We can't have a currency based on materials for the express purpose you pointed out - holders would get shafted and would shaft development using the material so they can maintain their wealth.
The turning of ideas or finite mathematical constants into a currency is likely the best option, as you will never be shafted on purity or weight, never shafted on loss from melting into bullion, and it isn't also involved in industrial markets as a consumable.
Gold really is the most pivotal component to future technologies, which is freaking unfortunate.
Silver is more useful than gold in our current technology. Its thermal and conductive properties are unmatched. (ctrl-f "silver" for the thermal link).
Rhodium is the real elephant in the room @ $21800 down from $25,000 PER OUNCE!! Vital for catalytic converters-the refiners only know how many converters are plated per ounce-gotta be in the thousands..
Gold and silver were stable currencies for all of human history (historical records of it for thousands of years). This lasted up until America's currency was taken off the PM standard (starting in the late 1800's). I take your argument against it as not substantiated by any evidence, but rather one of supposition.
We need a form of currency that is immune to inflation.
Gold mines can be found and new ways to process it implemented. Silver as well. So if the value varies depending on the amount found, it isn't the best basis for a currency.
Bitcoin may not be it, but it certainly is causing ripples. I just dislike how a cheeseburger comes to 0.00006 bitcoins.
Fast food cashiers can barely handle two decimal places. Now they gotta deal with 5? Ugh.
Gold compared against Bitcoin value:
https://www.tradingview.com/x/9orakdkS/
Had to use log scale since linear is so rekt:
https://www.tradingview.com/x/xkBGSWdU/
Good point about new mines can be found, there are also areas miners are sitting on until the demand becomes great enough to justify the cost. Then we also have private companies interested in asteroid mining. Japan's successfully brought back a drilling sample from space so it's not as crazy of an idea as it sounds.
I anticipate way into the future we will wrangle asteroids and collide them into Mars.
Then scoop up the remnants and refine it all.
It would be cheaper than Earth Gold because the vast majority of Earth's available gold is stuck in the center of the planet. The most we have access to were from asteroids anyway.
It's a fun idea but I think space mining will largely be other more useful materials. With certain asteroids containing more gold than in known circulation on earth that would WRECK gold holders
Gold is necessary for future electronics. Nothing is as conductive, outside of super-chilled superconductors.
It is pliable, durable, can be flattened to insane thicknesses, super conductive, and when formed in a monoatomic gold chain can interact with hydrogen to turn of its ability to conduct - thereby making one hell of a fantastic micro-transistor.
You can plate and gild with it and even make conductive mirrors out of it that will never tarnish, unlike silver.
Its density means it can take constant cosmic radiation and not break apart. In fact, it can potentially insulate pilots from cosmic radiation.
We can't have a currency based on materials for the express purpose you pointed out - holders would get shafted and would shaft development using the material so they can maintain their wealth.
The turning of ideas or finite mathematical constants into a currency is likely the best option, as you will never be shafted on purity or weight, never shafted on loss from melting into bullion, and it isn't also involved in industrial markets as a consumable.
Gold really is the most pivotal component to future technologies, which is freaking unfortunate.
Silver is more useful than gold in our current technology. Its thermal and conductive properties are unmatched. (ctrl-f "silver" for the thermal link).
Rhodium is the real elephant in the room @ $21800 down from $25,000 PER OUNCE!! Vital for catalytic converters-the refiners only know how many converters are plated per ounce-gotta be in the thousands..
Gold and silver were stable currencies for all of human history (historical records of it for thousands of years). This lasted up until America's currency was taken off the PM standard (starting in the late 1800's). I take your argument against it as not substantiated by any evidence, but rather one of supposition.
It's actually 8 but when you just price things in satoshis it becomes simpler.
I.e. 8,798§ (sats) instead of 0.000088₿ (BTC)
Doge has a set 4% deflation rate, much better than the failing USD. Just throwing that put there.
Let’s talk about your pork rind consumption issues....
People are going to notice!
LOL
But first let's talk about that mole on your back.
Stimulus was just passed - be sure to invest in crypto