Quote from: Scarabus on July 29, 2025, 02:10:13 PM

Bitcoins are analogous to gold; both gold and bitcoins are limited in total amount, making them an effective way to store money without paying the "inflation tax". However, there are currently many problems with cryptocurrencies, such as the division into "pure" and "dirty" crypto, and I am not sure that cryptocurrencies are more convenient to use than gold. And this leads to a new question: why the gold is not growing as fast as bitcoins? Maybe buying gold is illegal in the US/Europe?

Gold is completely impractical as money. That’s why gold coins were replaced by paper money, and banks were created.Bitcoin is a far superior form of money, as can be seen in the table below comparing their monetary properties.

Bitcoin is the first form of money with truly superior characteristics such a form of money has never existed before.

Gold has an estimated inflation rate of about 1 to 2% annually. It is estimated that around 200,000 tons of gold have been mined so far, and every year approximately 1 to 2% more gold is extracted from the earth. This means the supply of gold continues to increase slowly over time.Therefore, the annual amount of gold mined is between 2,000 and 4,000 tons. At this rate, the total amount of gold in existence would approximately double in 50 to 100 years.This doubling could happen much sooner if a large new gold deposit is discovered or if new technology makes gold extraction more efficient. Gold is not like Bitcoin, its supply is elastic. When the price of gold rises, many previously unprofitable mines become profitable, increasing the supply.In contrast, Bitcoin has a fixed supply capped at 21 million coins Also, new Bitcoin issuance cannot be accelerated or changed because there is a precise, predetermined schedule for releasing new bitcoins. This strict issuance order is enforced by the protocol and cannot be altered, ensuring predictable supply over time.Bitcoin’s inflation rate decreases every 4 years through a process called halving. Currently, Bitcoin’s inflation is about 0.8%, which is much lower than gold’s inflation rate. In 2024, the inflation rate will halve again to approximately 0.4%, further reducing new supply and increasing scarcity.
Gold is expected to be demonetized over the next 50 years. So, if someone owns gold, they should seriously consider My opinion is that it’s better to gold exchange it for Bitcoin.