There are more gold than Bitcoin

[freebutcaged]

Scientists yesterday 17/10/2017 discovered a vast supply of gold on the far side of the universe.
The extraordinary hoard is the result of a huge collision between two ultra-dense neutron stars.
The resulting gravitational waves and radiation flash were picked up by powerful detectors and telescopes on Earth and in orbit.
The explosion happened 130 million years ago in the Hydra constellation, which is so far away that the light and the ripples in space and time have only just reached us.
The gold created by the blast is estimated to weigh more than the whole of the Earth’s mass. Huge quantities of platinum, uranium and other heavy elements such as lead were also created.
Scientists not only 'heard' the phenomenon by measuring vibrations in space-time, they also used satellite and ground-based telescopes to see light and radiation pouring out of the stellar fireball, dubbed a 'kilonova'.
Excited astronomers talked of opening a 'new chapter in astrophysics' and unlocking a 'treasure trove' of new science.
The discovery will help scientists better understand the inner workings and emissions of neutron stars, as well as more fundamental physics such as general relativity and the expansion of our universe.
One scientists suggests the event 'will be remembered as one of the most studied astrophysical events in history.'
21,000,000 Vs infinite amount of gold. find more than 21M Bitcoins.
I copied this from dailymail Uk. Bitcoin @$10,000 first month of 2018.

[ZainSpider]

Still trying to figure out your post. You mean the bitcoin gold doesn't have 21M supply? or am I read incorrectly?

[Xavofat]

Still trying to figure out your post. You mean the bitcoin gold doesn't have 21M supply?

This is about actual gold.
The question isn't about whether this gold is available, it's about whether its value is high enough to warrant people finding the gold.  When people give gold a higher value, more gold is mined, so the price regulates itself to some extent.

Even though this gold exists, it doesn't remove the legitimacy of gold's scarcity because it's not practical for humans to go there.  It seems unlikely that it'll ever be practical for humans to go a large number of light years away.

For at least our lifetimes, gold will be continue to be scarce.  Most likely much, much longer.

[Qiuyue201]

That's sure an important discovery recently found out by scientiest,
but if you just use a bit of your logic
seeing that some scientists recently found out a planet that its major material consist of diamond, there must be a planet that consist of gold aswell.
So basically, the amount of gold near to infinite. we could know even before this discovery.

[mk4]

Well, in theory if there is unlimited space then there should be unlimited diamond, silver, or whatever mineral/metal too. But does it matter? The article states The information on your post states that:

"discovered a vast supply of gold on the far side of the universe"

"The gold created by the blast is estimated to weigh more than the whole of the Earth’s mass." Yea, lots of gold indeed! But does it matter? It's pretty much out of our reach anyway. It's not like NASA's going to send a space ship or whatever that will collect those gold and over-saturate the gold market here on earth.

Cool fact though, but I don't think this is going to significantly affect bitcoin and gold markets.

[Bolt Brownie]

21,000,000 Vs infinite amount of gold. find more than 21M Bitcoins.

This is cool information, but you aren't using it well. In theory yes, gold might be "infinite" in the universe, but can we have access to it? The answer is no. At least not right now, and with the knowledge we have about science and the Universe. So in a practical sense, gold continues to be scarce, and it's price is not affected by the info you just provided. If we were to find a huge supply of gold in an place that is accessible to us, then yes, it's price would drop.

[Berk]

Gold has a bigger supply but you could argue the demand is much higher than that of Bitcoin at the current time

[flippener]

I'm not impressed. When two neutron stars collide and produce a stash of bitcoin, then I'll be impressed.

[949miner]

Bitcoin has only 21 millions of coins in the total coin circulation, but actually, there are only 16 millions and a few numbers more on circulation because they haven't been mined.
But yes, there is much more gold in the world, and if you mean in kilos, they can be hundreds of millions, and in onzes, i dont know how i can count that amount.
It is not a good comparison, i dont know why have you created a thread for this kind of purpose.

[Filmmmakerr]

Still trying to figure out your post. You mean the bitcoin gold doesn't have 21M supply? or am I read incorrectly?

Lol, I instantly thought the same thing.

At OP: Thats pretty intense to think about, I mean Bitcoin already costs way more than gold and its gonna continue growing. Its only the beginning wait until there is only 1 Million Bitcoins left

[btcprospecter]

Gold only has value because it has a finite supply. It is rarer than other metals so if there is an infinite supply of it it's value will be alot lower. Also the other side of the universe isn't somewhere we have been yet. We still struggle to set up properly in space.

[Prince8]

cant really compare

[Indrawan77]

Although the  amount of gold is huge but gold will always be valuable because there are real usage in life, gold can be used for a lot of purpose beside of investment, but the price will lose with bitcoin, with limited supply, bitcoin will become more valuable than gold, but it is good to know that they found out new sources of gold, I have been thinking to keep some for investment, hopefully this finding can make the price lower

[szpalata]

Although the  amount of gold is huge but gold will always be valuable because there are real usage in life, gold can be used for a lot of purpose beside of investment, but the price will lose with bitcoin, with limited supply, bitcoin will become more valuable than gold, but it is good to know that they found out new sources of gold, I have been thinking to keep some for investment, hopefully this finding can make the price lower

How can they even quantify this? what is the equivalent of one bitcoin in gold? is it 100 grams of gold or what? I still don't think this argument makes sense because bitcoin is prely virtual and we can't tell if the entire 21 million created will be even worth a kilogram of gold in weight.

[mk4]

Although the  amount of gold is huge but gold will always be valuable because there are real usage in life, gold can be used for a lot of purpose beside of investment, but the price will lose with bitcoin, with limited supply, bitcoin will become more valuable than gold, but it is good to know that they found out new sources of gold, I have been thinking to keep some for investment, hopefully this finding can make the price lower

How can they even quantify this? what is the equivalent of one bitcoin in gold? is it 100 grams of gold or what? I still don't think this argument makes sense because bitcoin is prely virtual and we can't tell if the entire 21 million created will be even worth a kilogram of gold in weight.

I personally don't know either, as I really don't like people comparing the price of BTC to the price of gold. Though I assume people are referring to 1 kilo of gold because bitcoin already surpassed the prices of an ounce of gold($1,274.30) and a gram of gold($40.97); Whereas the price of a kilo of gold is currently at $40,969.67.

Source: https://www.apmex.com/spotprices/gold-price

[rjbtc2017]

I do not know why people are still comparing gold and Bitcoin like it's never dying. Physical and Digital currencies are both different.
If you are saying that Gold is INFINITE then it's rarity will be decreased and it will not be considered as one of "rare earth metals" because of "INFINITE SUPPLY" of Gold. I think Gold will not retain it's value if it will not be rare and some poster here already said that NASA will not just go there to get that Gold it will also cost of millions for that another project.

[jseverson]

Could you provide a source on this? It's pretty interesting.

This discovery theoretically could make the value of gold plummet, but it doesn't look like that large stash is accessible, so it cannot be considered a part of our supply. We don't even know if it's ever going to be possible for our technology to progress enough to be able to cover that distance, so the stash will likely stay out of earth forever.

Also, the value of gold has no bearing on the value of Bitcoin as far as I know. They're not in direct competition as there are lots and lots of other assets investors can get into if gold collapses. The very point of investing in gold is for your money to be safe, as it is incredibly stable, and Bitcoin is anything but. You don't have to choose between them. It's probably even smarter to put your money on both.

[ivrynx]

i think it is a fact that gold is much more than bitcoin, but i think we should also take into account,how are we comparing gold to bitcoin, since we are looking at gold's price per ounce, per karat, per bars and we as for bitcoin, we use 1 bitcoin, in order to compare it to fiat, however if we are talking about the resources, gold is also being mined, however gold is underground and bitcoin is digital. though there are a lot of gold, i think if you own one today, it would be hard trying to exchange it to fiat, if you go to a pawnshop, they buy your gold, but not on a fair price for you, but if we say that there is much surplus of gold, it would not have a value, anyone could just easily get gold, that's why governments keep a lot of gold in their reserves, just like what they did with diamonds, still we need to get numbers here, for us to determine the amount of gold that is out there, even the ones that are kept.

[conceivedspoon2]

You are right because there are just 16m bitcoin in circulation but there are 21m gold in circulation. But every emerging market has got a lot of prospect for investment. The price of both differs and due to the embracement of bitcoin, the price is now higher than that of  gold. And it doesnt really matter because gold is for investment purely while bitcoin is both for investment and solving of a payment problem.

[reflector]

I do not know why people are still comparing gold and Bitcoin like it's never dying. Physical and Digital currencies are both different.
If you are saying that Gold is INFINITE then it's rarity will be decreased and it will not be considered as one of "rare earth metals" because of "INFINITE SUPPLY" of Gold. I think Gold will not retain it's value if it will not be rare and some poster here already said that NASA will not just go there to get that Gold it will also cost of millions for that another project.

People comparing bitcoin with the gold due to the value and long term surviving in the world. So how we all expect bitcoin to survive in the world for the long time. In Feburary we find the bitcoin value compare with the one ounce of gold.
Now 2 ounce of gold is compare with the 1 bitcoin. Value movement million time faster than gold.