>A massive, 'semi-infinite' trove of rare-earth metals has been found in Japan
>cnbc.com
I mean the main selling point of BTC as a store of value is that it is guaranteed to have a maximum cap of 21m. They might not have found gold in that semi-infinite supply announced today but damn, it is theoretically possible for them to find a large amount of gold in the ocean or something, severely diluting the supply.
Thats kind of what would happen if Mt. Gox has to give the 160k bitcoins to the original owners.
>Thats kind of what would happen if Mt. Gox has to give the 160k bitcoins to the original owners.
Lmao, the maximum cap of BTC would still be the same. It CANNOT exceed 21 million.
Meanwhile, it is possible that someone will discover that gold isnt really that rare and can be found a lot deep in the marianas trench or something.
I think the Satoshi wallet would be a more fitting comparison.
がんばれ!
Still 21 million BTC max, even if we include Satoshi's wallet.... do you faggots even understand what you invested in.
Also how the fuck can something be semi-infinite? It's either infinite or not.
yep one important thing to keep in mind is that BTC market cap is always MAXIMUM market cap. in fact, the real market cap is always lower because a shitton of coins have been lost on broken HDDs from 2010, people who forgot memoic of hardware wallets, etc.
so BTC market cap is always much lower than is officially indicated, it takes into account all coins that have ever been created in the universe, and doesn't remove lost coins at all.
gold market cap is always lower than the actual market cap, it will never include all the gold on earth, let alone in the world.
I think they just meant a really abundant source lol. Even sand can't be infinite on earth after all.
indicated gold market cap is always much lower than the actual gold market cap*
>How does supply and demand work.
Honestly I believe capping btc to 21m is a bad. It will rise until it hits 21m then it will decline because there is no more mining and slight inflation
Can you guarantee that there can only be a specific amount of gold? How many tons? You can't. Meanwhile it is a fact that there can only be 21 million BTC.
Imagine holding a shit ton of gold then some retard finds out that gold is as common as teenage virgins below the ocean.
>It will rise until it hits 21m then it will decline because there is no more mining and slight inflation
the intelligence of some anons on this board never ceases to astound me
Dont green text links u faggot. it is annoying as fuck.
>BTC as a store of value
How good is a store of value that loses 70% of its value in a couple months? kys
It’s entirely possible and likely, we haven’t even began to tap into under ocean mining yet.
Gold is not considered a rare earth metal brainlet. Rare earth metals and elements can be found as a by product alongside other metals like copper, gold and phosphates etc
>source. I am a metallurgist for an underground mining operation.
Also I'm willing to bet that between Satoshi's wallet and the lost ones there's only like 18 million
>there is no more mining
user...
There will always be mining to process transaction u dumb fuck
Pretty cool that God would deposit all that outside of the most technologically advanced nation on the planet.
>implying that the network would survive without block rewards
>implying fees alone would be enough to keep the corn going
>implying there's anything wrong with known inflation or a disinflationary model
If you have a fixed amount reached, you will not have the wanted deflation effect you are expecting. When people say it's better for btc than gold, because of fixed amount, that's wrong, it's the opposite
stop while you're ahead user
???
>he thinks """"""rare metal""""""" are actually rare
protip: diamonds are one of the most common material on earth. the only reason they are expensive is because of artificial scarcity and a huge monopoly on them
>Seabed mining
>Of fucking rare earth metals
Guess they were not content with filling their oceans with radiation
it's still up 700% from a year ago you fucking retard
>what is population growth
Didn’t Clif High call this?
Did "they" discover "manganese nodules" off the sea bed again?
>Clif High
Might as well pull out the tarot cards and tea leaves, user