'Supergiant' gold deposit discovered in China is one of the largest on Earth — and is worth more than $80 billion
Chinese officials have announced the discovery of a massive deposit of high-quality gold ore, potentially worth around $83 billion, which could end up being the largest known deposit of the precious metal anywhere in the world.
As reported by the Chinese government.
What reason is there to believe them?
I thought same. "Attack on gold price ... incoming."
All the more reason to buy Bitcoin-there will never be more than 21 million coins once they are all mined.
The three big pillars of BTC were that it is:
It's got first mover status which is important, but not everything. It seems like crypto was a long con to get the most ardent critics of big government to accept a traceable digital currency, and the libertarians swallowed it whole.
Tulips might be a better investment...
You can start by planting your two lips right here...😁😁😁
But seriously...you are correct on all counts, which is why I haven't bought more crypto than pocket change like I'd buy Euro, British pounds or any other monopoly money.
It's such bullshit... yeah okay, people have made some coin trading it, but it's literally aether worth nothing... and like you pointed out, doesn't do what everyone thought it would in terms of privacy and security.
I'd like to see crypto "pick a fking lane" and if we're going to do this, have a clear winner emerge. BTC isn't it. It's almost exhausted. XRP/Ripple could be but who knows.
I think we need to see some actual grassroots benefits shown using Blockchain before people start using it in any serious way... I don't know of that's something that Trump is going to do with the possibility of a new dollar... given recent BRICS activity... and the proclamation of the dollar being relevant in the world. Something needs to change.
It's particularly relevant that the majority of people don't yet have confidence in crypto, and even less understand it. So if there's going to be crypto as a currency, essentially backed by people believing it's worth something similar to USD, then they've got some serious work to do to get there.
There will be more crypto coins though. BTC holds no inherent value. If there wasn't a bunch of Westerners holding the majority of them, you'd never even pick it apart form many of the rest. It's NOT UNIQUE.
The value is in decentralized currency, not crypto coins in general unless they have built in needed functionality... like Ripple. BTC is not the future, it's a bubble.
It's a bubble that sure is taking a while to burst...but yes, I agree.
I don't understand why Trump says he likes it either, but I trust his word on it having some use.
What’s the inherent value of gold, people think it’s shiny? I’ve always thought jewelry is a vain waste of money, diamonds too.
You guys keep pumping money into gold and in 5 years, we will see who made a greater return.
SILVER IT IS!!!
LOL, this is exactly why Bitcoin will NEVER be the global crypto.
The majority of humans do not recognize BTC as anything more than one of many decentralized currencies. And why would they support a currency that only makes a select few richer when BTC does NOTHING better than other cryptos.
Now.... ISO 2002022 or whatever..... now those cryptos may do something but BTC was a designed bubble. Who's going to be left holding the sand bags?
Its worth what people will pay for it, trading crypto has been a pretty profitable second job for me for the last decade or so, its just a part of my investment portfolio
Yeah I talked to some of the higher ups at my property management company I work at/
They all said no to Bitcoin.
Yeah, I know people that put everything they have on BTC and I worry about it since it reminds me of the Mississippi Bubble. There is concept called gresham's law with competing currencies - people would save the currency they perceive to be higher value and spend the less valuable. The store of value function is important.
Aha! now we know where all that gold in from the Trade Center towers went... lol
I like your angle. They do have to get it out of the ground, if it is what they say it is and that costs $, alot of time and expense. The odd thing, is as time goes on and money is spent to mine it, the price rises with a depressed economy. In some cases that number COULD stand, over time. If that makes sense.
But, in reality, we just sent a light 80 Billion to Ukraine. . .lol
kona dog as in Kailua town Kona??
80 Billion? Hell we gave more that that away to Ukraine in 3 months. Drop in a big wasteful bucket.
Hand the Uyghurs their new shovels
Chins is asshole. pebble mine in Alaska is way bigger. Enaad the EPA. Mine Pebble!!!!
Sounds like a good start on reparations for COVID.
Amen Patriot, perspective is a helluva thing.
Can't wait for the DOGE Fed audit with Ron Paul and body cams. Fun times.
All the money that the U.S politicians have been laundering through China over the years has to be justified some way.
It is so deep it would cost more than the value of the gold to get to it!
Does this mean Gold set too drop?
I think it means China is saying "you remember how a lot of Chinese banks were caught faking their gold deposits a few years back?" Well, it's not true but even if it was, it's not a problem anymore, which it never was anyway."
This is the third time I have heard news about a gold mine. Afghanistan, grand canyon, some 3rd world country and now china small c. I don't believe you.
Gold deposits don't mean shit,if it's not economical to mine.