Quote from: markj113 on August 19, 2018, 04:36:10 PM

Quote from: KonstantinosM on August 19, 2018, 04:13:46 PM

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 will more likely come first, enough computing power available to a powerful organisation or government to render bitcoins encryption useless or asteroid mining space ships with access to a powerful and cheap enough energy source to make it cost effective.

My guess is as good as yours. I think asteroid mining is easier. If we all wanted to prevent mining centralization, and things really did get bad we can always buy the latest mining gear and crank it to 11. If the government really was interesting in destroying bitcoin they could do it, but then we'd just hardfork to an algorithm that ensures we can outpace the government.

Meanwhile, space mining is inevitable. The gold will probably just be a by-product of more useful resources that are out there. But as long as you can double the supply of gold and get rich in the process why not?

My point was that bitcoin's supply is fixed, while gold can be mined to oblivion.