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16001895 No.16001895 [Reply] [Original]

There are approximately 170,000 tonnes of gold on the planet. Each tonne has 32,000 ounces.
That means there are about 6e+9 ounces of gold on the planet.
If you divide that by 21 million, you get 287.
So every Bitcoin is the equivalent, in terms of total supply, of 287 ounces of gold.
287 ounces of gold is currently worth $428,100USD.

>> No.16001913

Based

>> No.16001917

>>16001895

170 000 * 30 000 = 5100000000 total ounces / 8 billion = 0.6375 per human

gold can never ever be world money
nor can BTC be

good thing is both have no use cases

>> No.16001926

>>16001895
fud

>> No.16001927

>>16001895
Bitcoin isn't gold though

You can't wear bitcoin as jew-erey

>> No.16001947

https://en.wikipedia.org/wiki/Depository_Trust_%26_Clearing_Corporation

>> No.16001975

>>16001895
Not exactly, bitcoin is better than gold beacuse it's easier to use on transactions.

Bitcoin is better than gold and fiat, maybe its value should be the sum of all gold and fiat in the world

>> No.16001980

>>16001917
>no one has ever figured out how divide into less than 1
absolute brainlet. hopefully we've already sterilized you.

>> No.16001996

>>16001980
the satoshi is not the smallest denomination
the smallest denomination is the TX fee

as for gold the smallest denomination is defined by what can the average human hold in his hand

>> No.16002001

>>16001917
Shitty bait. Your post has no relevance to BTC. If you don't understand why then you are a retard.

>> No.16002005
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16002005

>>16002001
ohh you will find out soon

>> No.16002037
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16002037

>>16001895
asteroid mining you sperg

>> No.16002099

>>16001996
>as for gold the smallest denomination is defined by what can the average human hold in his hand
did you know you could take 1 grain of gold and mix it with say 5 grams of copper and wind up with an alloy coin?

>the smallest denomination is the TX fee
which is paid in?

>> No.16002114

>>16002099
do you know that when you do the mixing you loose energy become to extract it you need to put up new energy, you need to remine it, and this is exactly how empires fail

every single crypto has a TX fee except a few, that fee is the penny, you will not send a transaction that is worth less than the send
you will not bend over to pick up a penny if it is not worth it
therefore the TX is the effective satoshi, that means that there are not 21 mil 10^ but much much less

>> No.16002157
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16002157

>>16002114
But because of the Lightning network, this will not be the case. The LN can handle micro txns, in fact, we could even divide the Satoshi further.

>> No.16002186
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16002186

>>16002157
there we go
LN does not work at all
LN has 300 bucks of liquidity
LN cannot will not ever work because it has to be settled on the main layer
LN is actually not profitable for the LN nodes

you fucking dense motherfucker

>> No.16002194

>>16002114
>do you know that when you do the mixing you loose energy become to extract it you need to put up new energy, you need to remine it, and this is exactly how empires fail
Perfectly describes the failure of fiat....attributes it to gold.

>> No.16002222

>>16002194
we live in a fiat world
you know why ?
because
fiat is a debt instrument
lending crypto does not work because there is no fall back
same with gold

with fiat you have the ultimate fall back of inflating you problems away
and that makes gold and crypto good

but still you cannot use them for financial engineering
so fiat is here to stay

>> No.16002239
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16002239

>>16002186
>LN won't work! Daddy make the LN stop!

>> No.16002293
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16002293

>>16002239
I am all in on privacy coins
LN is your brainlet problem

>> No.16002487
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16002487

>>16001996
>as for gold the smallest denomination is defined by what can the average human hold in his hand

>> No.16002533

>>16002487
ok yea
I told you in the other tread that you have to hodl the godl to call it yours
paper gold solves the problem, but you are risking a lot

>> No.16002563

>>16002293
https://www.instagram.com/karna.val

>> No.16002711

Over my life I've produced maybe a pound of toenail clippings. Meaning in the entire world, there are only 16oz of them available. 6e+9 / 16 = 375,000,000. 375 million ounces of gold is currently worth ~559 billion dollars. So should an ounce of my toenail clippings sell for 559 billion? Not even trying to FUD bitcoin, just showing why this method of value analysis is retarded.

>> No.16003044

>>16002533
The gold is in the notes.

>> No.16003059

>>16002711
Are toenail clippings an increasingly accepted and internationally recognised secure digital replacement for gold?

>> No.16003215

>>16003059
bitcoin is not a replacement for gold

>> No.16003229

>>16001895
and we wonder why it's going down to sweet china town

>> No.16003239

>>16003215
It's an extra-governmental form of value that is more easily transported, stored and secured than gold at any significant scale. It's gold that can be moved across state borders holding only a password in your mind. It's a form of completely sovereign value. It is not a complete replacement for gold but they both occupy the same space.

>> No.16003444

>>16003239
not really
gold is an element
bitcoin is an internet meme