Re: [ANN] Grin | PoW Mining | Electronic transactions for all. Community driven.
Yes gold mining decreases every year. It is harder and harder to find gold now. Eventually we will asteroid mine it, but that won't be feasable or cost effective for decades.
I'm not sure that's true.
Quote from: https://en.wikipedia.org/wiki/Peak_gold
our calculations point towards gold production peaking at some point between 2022 and 2025
There have only been a few short periods in history where production has declined.
However, we are certainly approaching a period where gold extraction is going to sharply decrease irreversibly for the first time.
at current rates of extraction... known gold reserves worldwide would be depleted in about 17 years.
That's great. So gold is more inflationary than either bitcoin or grin (in the long run) yet it holds it's own just fine. Very cool data. +merit