Quote from: marcus_of_augustus on Today at 03:05:52 AM

Quote from: AlexGR on Today at 02:27:20 AM

Quote from: marcus_of_augustus on Today at 12:35:17 AM

Quote from: Last of the V8s on May 11, 2020, 08:07:35 PM

... 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%

Yeah I know how it goes. I just used "official" estimates from https://www.gold.org/goldhub/data/above-ground-stocks

However there is a huge red warning sign in the bold part:

Total above-ground stocks (end-2019): 197,576 tonnes
Jewellery: 92,947 tonnes, 47.0%
Private investment: 42,619 tonnes, 21.6%
Official Holdings: 33,919 tonnes, 17.2%
Other: 28,090 tonnes, 14.2%
Below ground reserves: 54,000 tonnes

Yet to be mined gold is in the millions of tonnes... and it will become easier to mine it once AI programmed robotics are sent to mine it in places that humans can not operate efficiently. Whether it's underwater, deep in the earth, near volcanoes, or in freezing and hot places.

And that's only the mechanics of extracting it. AI will also assist heavily in detecting patterns of where gold actually is. These two reasons can lead to a very large supply boom in like 10-20 years.

AlexGR

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