/biz/ - Business & Finance

I want gold more than anything else but owning gold doesn't generate more gold
is it dumb to just go all in on the gold mining majors and buy physical with dividends?

>>24725475
Spend your money as you wish, but it's a waste in my opinion. It's like those guys who put bullion queens beasts in ngc slabs, you're collection gold, not patterns on a coin.

If you are going to buy something slabbed then at least get an early date sov like the 1822 or those shield sovs which are actually collectable because that are over 150 years old.

>>24562204
just what do you think it would take to set up a large scale mining operation 157068770 miles away from earth in the most hostile environment humanity has ever encountered?

just how many millions of gallons of gasoline do you think it would take to ship all the mining equipment and personnel?
how many decades of R&D on space mining equipment do you think we would need? mining equipment barely functions on earth where we have very favorable conditions, what about space where you will shift from 250 degrees Fahrenheit while facing the sun to -208 degrees Fahrenheit while not facing the sun? what kind of stress do you think that would put on industrial equipment with metals expanding and contracting due to extreme continuous temperature shifts?
we can barely get rovers and satellites, built in hermetically sealed laboratories by the brightest minds humanity has to offer, to function in space, but we're supposed to believe you can just strap a Hitachi mining excavator on a rocket and start mining?

who will provide the capital investment for all of this? hundreds of millions of dollars have already been invested into asteroid mining startups without as much as a single rocket leaving orbit, much less reaching an asteroid, creating viable space mining equipment, or bringing home metals
you would need a budget a thousand time larger than the moon mission budget and even then it's a long shot
any government or private organisation that attempts space mining will go broke long before they bring back even an ounce of gold

maybe 500 years from now we will have the technology, energy and capital to go on such an endeavor but by the time you have that kind of technology any amount of gold you mine will be nothing compared to your overall economic growth

as human technology has expanded, so has our ability to find more gold but whatever gold we've found has always been less than the economic growth brought on by the technology - keeping gold deflationary

What is the difference between Bitcoin and our current banking system?

People keep telling me that Bitcoin is peer-to-peer, that it has no middleman, no third party that can stop transactions or inflate the currency.
This is a lie.
Bitcoin has a third party without whom the entire system collapses, a middleman who can both stop transactions and inflate the currency by double spending - the miner.
>b-bb-b..but! the miner needs 51% of the hash power to do that!!
Yes. Indeed. The miner needs 51% of the hash power to block transactions and inflate the currency.
Just as the banking system needs 51% of all political and military power to block transactions and inflate the currency within their region of operation.
If a banking system with less power attempts to block transactions or inflate currency within the region of a more powerful system - he will be ousted, much as the miner with 49% hash power attempting to block transactions/double spend.
>b-bb-b..but! if the miner blocks transactions or double spends he will undermine his own wealth and destroy bitcoin!!
And what do you think the banker is doing?
The banker can temporarily expand his own wealth and power by inflating the currency and blocking transactions he deem undesirable but in the long run it will destroy the very currency and power structure that underpins his position.
>s-ss-s..so! that means the miner would never do it!!
The miner, just like the banker, may end up having no other choice.
>(1/2)