Post
Topic
Board Bitcoin Discussion
is bitcoin x200 rarer than gold?
by
snatoshi
on 18/10/2018, 22:55:53 UTC
I remember have heard this long ago on Reddit but was never interested in doing the research needed, then I found it was indeed even more rarer  Grin

Here is what I got:

"The World Gold Council estimates that all the gold ever mined totaled 187,200 metric tons in 2017" so this means there is a total equivalent in ounces of 187200000/0.02835 = 6,603,174,603 ever mined at this point in earth.

So with a total of 21,000,000 that would be ever created this means a total of 6,603,174,603/21000000 = 314 bitcoin ratio against gold, so you can say per one bitcoin there is 314 gold ounces  Grin

Links: https://en.wikipedia.org/wiki/Gold_reserve