Post
Topic
Board Bitcoin Discussion
Re: Why 21 Million? Won't that defeat the purpose & STOP Universal Acceptance
by
franky1
on 14/04/2014, 23:10:31 UTC
why 21mill coins is the same questions as why there are only 171,000 tonnes of gold on the planet. as that equates to less then once ounce of gold per person for the whole planet...world wide wealth exceeds the amount of gold in the world.

Do you realize this is why we went off gold standard?  When you make currency convertible to a commodity.  The supply cant keep up w demand.  It leads to liquidity crisis

thats because banks got greedy, and printed more money then people wanted or needed. if banks stuck with the gold standard and only printed enough FIAT compared to gold value.. then the world would not be trillions in debt. instead the value of gold would have risen to compensate for a demand of extra fiat.