Ninjastic
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Board Announcements (Altcoins)
Re: [ANN] Grin | PoW Mining | Electronic transactions for all. Community driven.
by
jeffthebaker
on 23/01/2019, 16:18:35 UTC
Quote from: Anon136 on January 23, 2019, 05:36:02 AM
Quote from: OgNasty on January 23, 2019, 04:16:57 AM
Quote from: jimlite on January 23, 2019, 04:03:18 AM
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.

Quote from: https://www.bullionstar.com/blogs/ronan-manly/annual-mine-supply-gold-matter/
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

I think Grin is more inflationary than gold in the long run (as well as the short run, ofc). There is a finite amount of gold on our planet, but an infinite supply of Grin. I suppose an argument could be made about the extraction of gold from astroids and extraterrestrial planets, but that's more of a philosophical discussion now more than anything else.