Ninjastic
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Board Bitcoin Discussion
Re: is bitcoin x200 rarer than gold?
by
pavka
on 20/10/2018, 20:19:36 UTC
Quote from: Rustamm on October 20, 2018, 08:09:58 PM
Quote from: odolvlobo on October 19, 2018, 05:15:44 PM
Quote from: snatoshi on October 18, 2018, 10:55:53 PM
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

The units are completely arbitrary. You could also say that for every ounce of gold there are 320,000 satoshis, or that for every satoshi there are 2.7x1017 atoms of gold.
Yes, on the other hand, it shows how much satosh is compared to grams of gold, or in other words, how meaningless such comparisons are.
In general, comparing Bitcoin and gold is very stupid, since they generally differ almost completely from each other and there is very little in common between them.
Yet they have something in common - both gold and bitcoins are a measure of wealth these days. If you have a deposit in gold and bitcoins in your e-wallet, then you are a wealthy person.