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Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
marcus_of_augustus
on 12/05/2020, 03:05:52 UTC
⭐ Merited by JayJuanGee (1)


... next we wait to see what happens now that bitcoin's monetary inflation rate is less than gold ... and every other money on the planet.

I think we just reached parity levels with gold inflation. Next halving would be half of gold.

Gold is around 3.5k tons per year / 199k supply (197.5 end of year 2019) = 1.76%.
Btc is 328.5k per year / 18.37mn supply = 1.78%


Total above ground gold holdings is not a well-known figure. Some of the Central Bank gold is bogus paper backed by "Deep Storage Gold" receipts, which could be as tenuous as forward sales from miners of gold reserves still in the ground. Private gold stashes are routinely under-reported (or simple lies) to avoid taxes and other unwanted criminal attention. Huge stashes have been lost (and found), 'disappeared' and 'reappeared' in wars, pirate raids etc over the centuries. The agreed upon figure in economics, markets, monetary studies literature going back decades is gold's inflation rate over long terms is very stable around 2.25-2.5%