Wouldn't that golden asteroid create a golden hyperinflation. Since having so much gold on the market.
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Wouldn't that golden asteroid create a golden hyperinflation. Since having so much gold on the market.
yes it would.
It only would if there werent NEW demands that would increase. I see tech industry forcing a considerable demand increase (potentially)
Not only do demands increase but what happens is use case scenarios open up. Where previously gold was too expensive to be built into piezoelectric fabrics for clothes suddenly there are new products and services that are enabled. A paradigm shift happens for each emerging market.
Um theres like 7 and 1/2 trillions dollars worth of gold in the world. You suddenly ad an extra trillion in the mix that's going to throw things off a bit. that's more then 1/10th the value that would get knocked off the current spot price. Also technology is moving away from gold and going to silver. silver is actually more rare since it gets used up and actually isn't specifically mined for.
Are you implying that we may see the price of silver going up in the future? I didn't knew this. Any sources on this topic? Interesting fact: recently there was an ICO that offered cryptos based on gold. You had to exchange gold to that crypto I can't remember it's name, it was launched by the Gulf states developers. Possibly a scam but still interesting how far is this going.
I mean I don't even know which link to direct you to. People have been talking about it for years. The ratio to gold when it was pulled from the earth in history was like 1/12 right now silver is 1/70ish with gold but silver is not recycled a lot gold is always scrapped and hoarded. We just toss silver in land fills that cannot be replaced. its pretty crazy. The numbers make no sense.
Silver is very undervalued at the moment. Cheaper than 30 years ago. Silver is an industrial metal thats being used by most of the new technologies like solar energy. The amount of mined silver is only the same as gold at this moment. Silver is as rare as gold in extracted quantities.
Agreed. But also important to note that during paradigm changes like the renaissance and industrial revolution can create more than enough innovation to create "escape velocity" from this. But yes I do see your point. Such an influx is going quite substantial %.
Perhaps ONLY putting that new supply on the market when an operation joins up with an idea that could potentially counter such demand. For instance, let us say that the gold venture decides to set aside some of the new Gold for distribution to the best project every year that find uses for Gold in next paradigm industries that are plotted to have expected demand that can more than counter the dilution.
We must also take into account that it is likely that this is not the last astroid....so a large portion of our time should be in ensuring those new industries have in their portfolio research on how to use the Gold in ways that will have endless need.
Is there an endless need for gold?
Is there an endless need for data?
Which has the largest spectrum of value-producing use cases? ;)
EOS...
Yeah thats exactly it. You utilize your virtually endless supply of gold in the short term to offset the costs of R&D and go into a frenzy of experimentation. Then as you start manipulating 120 years of decent tech without gold as a cost-prohibited use case, then ALL SORTS OF COOL SHIT happens lol
And you produce new products as you start to dump your gold