[Fun Fact] Is Gold scarce ? Bitcoin is !

[Texac]

what we do know is bitcoin's total supply is just 21 million and that makes it scarce.
It's more precious than gold.

Well, even if gold isn't as scarce as Bitcoin, it still has the trust of the world and people don't believe in Bitcoin as much as they do in Gold because they know that the supply of Gold, no matter how big it is, will never get cleared from existence no matter what happens because it exists in reality which means it has a physical existence while Bitcoin is just a digital currency and a technology and we all know that technologies are not really that scarce as they are always replaceable.

We all know that there can't be any other asset to replace Gold until the existence of humanity but we all know that Bitcoin is something that can be replaced by something else in the future, something with better functionalities and properties can take its place.

you have a point there, you have a very fair view of these two assets, what people are trying to deny is that gold is still being trusted and used more than bitcoin.  bitcoin is still something of an uncertainty and can still be replaced in the future with better technology.  But with gold, at least it has been around for thousands of years and still stands as the most valuable asset and is still absolutely trusted by people.
Bitcoin is a great invention, it has many outstanding advantages over other asset classes and especially it brings wealth to many people. but that doesn't mean it will surpass gold, surpass everything in this world to become a god, people are exaggerating about bitcoin.

[ImThour]

That's a very big "If" situation which isn't going to happen anytime soon on this planet. Gold is not scarce, we haven't even explored the whole earth right now. So there may be some countries still which has Gold underneath it but still not discovered. Bitcoin is true scarcity, 21 million pre-defined by the God aka Satoshi Nakamoto. Many of the original miners have surely lost their Bitcoin so I think almost 20% of the total supply might not be accessible.

[Minhxx]

In my opinion, over time gold will not be scarce anymore, we will have more advanced technologies to mine harder places, or chemicals that can make gold. Bitcoin is different, the total supply is 21 million, cannot be increased, they will become rarer and rarer over time

[Blitzboy]

what we do know is bitcoin's total supply is just 21 million and that makes it scarce.
It's more precious than gold.

Well, even if gold isn't as scarce as Bitcoin, it still has the trust of the world and people don't believe in Bitcoin as much as they do in Gold because they know that the supply of Gold, no matter how big it is, will never get cleared from existence no matter what happens because it exists in reality which means it has a physical existence while Bitcoin is just a digital currency and a technology and we all know that technologies are not really that scarce as they are always replaceable.

We all know that there can't be any other asset to replace Gold until the existence of humanity but we all know that Bitcoin is something that can be replaced by something else in the future, something with better functionalities and properties can take its place.

you have a point there, you have a very fair view of these two assets, what people are trying to deny is that gold is still being trusted and used more than bitcoin.  bitcoin is still something of an uncertainty and can still be replaced in the future with better technology.  But with gold, at least it has been around for thousands of years and still stands as the most valuable asset and is still absolutely trusted by people.
Bitcoin is a great invention, it has many outstanding advantages over other asset classes and especially it brings wealth to many people. but that doesn't mean it will surpass gold, surpass everything in this world to become a god, people are exaggerating about bitcoin.

Intriguing viewpoint, but lets flip the coin, shall we? Gold's been our pal for eons, no question! But does longevity necessarily imply indispensability? The mighty dinosaurs enjoyed a longer reign, and we all know their fate

True, Bitcoin's roller-coaster ride and unpredictability give us jitters. However, isn't this inherent to any budding technology? Can we reject it just because it’s novel and unorthodox? If Bitcoin gets dethroned, wouldn't that be the law of tech evolution? Unlike Bitcoin, gold cant adapt - it remains merely gold

Bitcoin won’t ascend to divinity, agreed, and such claims are hyperboles. Yet, let’s not downplay the might of innovation. Perhaps, we'll soon be trading Bitcoin

[MusaMohamed]

That's a very big "If" situation which isn't going to happen anytime soon on this planet. Gold is not scarce, we haven't even explored the whole earth right now. So there may be some countries still which has Gold underneath it but still not discovered. Bitcoin is true scarcity, 21 million pre-defined by the God aka Satoshi Nakamoto. Many of the original miners have surely lost their Bitcoin so I think almost 20% of the total supply might not be accessible.

Around 208,874 tonnes of gold has been mined throughout history in estimation. You can create your account log in and download the report

How much gold is in the world?
An estimation on underground gold reserves, it is about 53,000 tonnes of gold in identified reserves.

We can have more gold from other planets or asteroids in future with more advanced technology to harvest gold in the space.

[xSkylarx]

It is just a made-up story, but if this is true, then for sure we are all dead because that is a huge asteroids that is capable of destroying our planet; if not, then for sure half of the earth. But I know the point is about how valuable it is. The same is true with Bitcoin; it's just like when you've been able to dig up a working hard drive that has tons of bitcoin on it, which also makes you wealthy.

[savetheFORUM]

All this still rests on the fact that Bitcoin has a known total supply, whereas gold has no maximum supply. There is a possibility that a very huge ton of gold could be discovered any day, and as you have described, if such a thing happens without killing us all before the use of the gold is made, then I think it's going to still reduce the current worth of gold because if everyone has like $93 billion worth of gold, they can sell it at any price they deem fit. As such, it will reduce the gold price in the market. Since Bitcoin has a limited supply, if demand is higher than supply, the price will shoot up.

I think we are talking about the possibilities, so there are a lot of things that can possibly happen but the chances of them happening are very low or near zero, we can make different assumptions and create made-up stories about how the supply of gold can increase significantly, we can also do that for Bitcoin saying there can be something created that might make Bitcoin become less worthy than now since we are talking about possibilities.

If we talk about what currently exists, we shouldn't call gold not scarce, because even if there is more gold to be found, we haven't found it yet and that is just a possibility and we don't live off of possibilities but we believe in what we have right now, so gold is also scarce and that is the reason why it's a precious metal.

[Victorik]

Just imagine you wake up one day to find out that there was huge asteroid that just dropped on earth.
The news is all over and then the world finds out this



Although it's just a made up thing yet there can be such a possibility. We never know.
But what we do know is bitcoin's total supply is just 21 million and that makes it scarce.
It's more precious than gold.

Source: https://www.instagram.com/p/CtvdmZoPmxV/?igshid=MTc4MmM1YmI2Ng%3D%3D

Funny, for what is worth, that kind of wishful thinking about gold falling from the sky is not possible in the first, even if it happens, do you think they will give you a share from it? Hell no! The rich and mighty will hold on to it and still continue to oppress the poor.