Post
Topic
Board Speculation
Re: When do goldbugs give up?
by
gentlemand
on 19/08/2018, 16:26:04 UTC
7 Trillion.

Gold is just a shiny metal. Eventually we'll mine it from asteroids and the price will, like the asteroid gold. Crash all the way to the ground.


Bitcoin is truly deflationary. People that go all in on gold and avoid bitcoin are short-sighted.

What reason is there to mine it from asteroids? Presumably there's more than enough already for actual industrial use. The only reason to mine it in, um, outer space would be to sell it to speculators at which point it's no longer economic to mine it.

The more interesting one is gold in seawater. At the moment the cost of extracting is five times more than the value but that's got to be cheaper than going all Buck Rogers.