Out of all your uninformed posts, I will now shine in part a light on this one:
To start with, in 2000, the cost of production was a LOT lower than today as well. This article here shows the only chart on the cost of gold mining I could find. It says the "cash cost" of mining gold has risen from approximately $130 in 2000 to $727 in 2012,
it's not my job to make you understand better.
You have demonstrated again and again over your last posts that you are very uninformed about the topic of gold. You might have already bought it 20 years ago, but you certainly didn't learn a lot about it in those 20 years. After reading uninformed post over post from you about gold, I finally couldn't take it anymore, hence this post of mine... maybe somebody else can learn something from it.
Wow, you sure schooled me
User705 pretty much explained very clearly and logically why your only argument above is wrong. Everything else you said was more or less you expressing that you think I am ignorant. That did not exactly support your claim well. Your answer, while not completely wrong, is mostly beside the point here, and I really can't be arsed to explain in detail why. Another poster clarified with a spot-on answer.
Rant over, calming down slowly... calming down... lol!
I don't think you know what ELI5 means. I think you failed to understand the question. He did not ask for "in detail". I explained the why, not the how.
The comments about gold mining costs being higher as a price support floor is invalid. First the only reason it's higher is because the higher market price led miners to invest in low margin mines.
Can you give me a source for that?
It doesn't sound very logical to me
No one is shocked here that you can't understand this basic concept. If you were half as smart as you thought you were, you would be a god. If you were twice as smart as you really are you might be able to understand basic questions and concepts.
but for some reason (authority on BTC? fancy nickname? mighty post count?) out of all the people, a gold-newbie asks you for advice. Well, if he could hold apart the people who know from the people who don't know, he probably wouldn't have to ask in the first place, right? It's understandable.
Right.
At first I was wondering if you were a troll but I really think you are just an ignorant kid who thinks he is hot shit cuz he read 4! not 3 but 4! whole Wikipedia articles from start to finish!!1!!111!. You are going to have a hard life kid unless you find a better path. Your 2/3 of an ox of gold and your l33t skills wont take you to wall street.
Wow, you sure gave him a-beating, didn't you?
