[Fun Fact] Is Gold scarce ? Bitcoin is !

[posi]

If you believe that anything is possible, people will accidentally find another large amount of gold in the world, also there is a chance that one day someone can modify and create more bitcoins in the future. Anything is possible, and bitcoin is no exception. Don't try to devise fanciful or unrealistic assumptions to exaggerate bitcoins beyond necessity. Gold is still a scarce and very valuable metal for us, bitcoin is a virtual asset but also brings values and benefits to us. I prefer both and invest in both rather than compare them.

[jrrsparkles]

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

This one maybe a made up thing but in reality there are asteroids which we found already that has lot of gold than Earth but we don't have the source to reach that place for now and the cost of extraction will exceed the actual worth of gold that is why still Gold is trusted but who knows what future holds like inter planet transport like Elon claiming by that time we may have something else that will be valuable than gold.

And yes for the fact bitcoin is scarce since its got limited supply.

[fullhdpixel]

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.

[FrozenBit]

I don't think one is more precious than the other because actually they are all precious things and bring different values ​​to our uses. Since this is a hypothetical story where the OP mentioned a negative incident to gold, I can also think of negative effects from solar storms and unstoppable atmospheric defenses, causing for the power supply and the internet system and above to crash , there are actually a lot of things in life that are quite negative and in other words the reasons for our extinction, not just space disasters, things What takes place in the earth itself is also full of mysteries. And back to the content about which value, this is also from an individual or collective perspective, we all have our own insights and decisions and choices.

[kryptqnick]

If such a thing actually happens, it's clear that gold would quickly lose the vast majority of its value, and it would no longer be considered a standard, something financially reliable. But how likely is such an event? And wouldn't a bigger issue of a huge asteroid be a deadly explosion?
That being said, what's more realistic is that there's already a lot of gold on Earth, much more than anticipated. And over the years, there've been some news indicating that (Charles-Tim linked some).
Bitcoin is scarce, there's no way around it. However, it's also very volatile in value, and I think people still appreciate gold more largely because it's more stable in price in practice, even if in theory it might suddenly change at some point.

[pawanjain]

But what if it is an asteroid that is capable of destroying the world like what scientists researched on to have caused the extinction of dinosaurs the and capable to destroy human existence for the next era to begin? 

Without Asteroid, I read about countries that are discovering gold. This is an article I found while I search just for Africa countries:

Five Biggest GoldDiscoveries in Africa in 2022

That is just Africa.

Did you know that gold are buried in oceans which are far more than the ones on the earth surface that all are not yet discovered? No technology to mine that, at least for now.

Did you also know that the earth crust contain far more than the gold on earth surface and beneath the oceans? No technology to mine that too and that will not be possible as it can deteriorate how solid the earth is.

@Charles-Tim That's just spitballing at that point. OP made a pretty sound argument about the alteration of gold's supply since the current supply of gold in the planet is scarce and finite and the only logical way it could be supplanted with is through an asteroid impact. That's just stupid and a little cynical in my opinion. And yes that includes the ones that couldn't be mined due to the current limits in technology.

In the discussion of immutability however OP, while gold can be made infinite virtually, supply isn't the only thing that makes it valuable. It has aesthetic properties that makes it a must-have by every one on the planet, not to mention its practical applications in technology, business, and other ventures which strays from the argument that gold isn't as great as bitcoin cause I could easily add more gold into the system of supply.

Firstly, I haven't made an "argument" that gold is scarce. Checkout the question mark in the title of this thread.
This post was more of a fun post just to tell people that bitcoin is more scarce and more valuable than gold.
Secondly, I didn't know a lot of Gold is already present on Earth. Thanks @Charles-Tim

[Bushdark]

If you believe that anything is possible, people will accidentally find another large amount of gold in the world, also there is a chance that one day someone can modify and create more bitcoins in the future. Anything is possible, and bitcoin is no exception. Don't try to devise fanciful or unrealistic assumptions to exaggerate bitcoins beyond necessity. Gold is still a scarce and very valuable metal for us, bitcoin is a virtual asset but also brings values and benefits to us. I prefer both and invest in both rather than compare them.

Actually I don't really understand what op is trying to pass out but I know the possibility of this happening might be minimal because it is going to cause some great damage that will lead to lose of lives and infractures making millions of people displaced. We should never think of this in any form because because it is going to be a big disaster to the world create waves that could cause sunami and earth quake that will display so many people and can also cause death rate to increase drastically cause illness and poverty to the world.

[Baofeng]

And so is the countless threads that we have been, and this is going to be unending debate in my opinion.

•  BTC is scarcer than gold.
•  Why Bitcoin must surpass gold
•  Do you think a Bitcoin is worth more than a metric ton of gold?
•  Bitcoin VS. GOLD
•  BTC or Gold Investment?
•  Bitcoin vs Gold: The Age Old Debate

In any case though, whichever is scarce, whether it's Bitcoin or Gold, the best thing to do is take advantage of it because we all know the basic adage of supply and demand are going to affect the price of both of this assets in the future. If you are a Gold bug then accumulate, if you are a Bitcoin enthusiast, continue to stack sats and HODL.

[Ale88]

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

It's a joke but maybe actually is not that far away from reality: in the future we'll have space mining, so who knows what some companies will bring back to earth. Many minerals that today are scarse could become common. Of course it's not something that will happen quickly so whoever holds gold is safe but it will be interesting to see how things will develop.

[BenCodie]

We all know bitcoin's scarcity is far more guaranteed than golds, but this is the subjective part:

It's more precious than gold.

Obviously most people still value gold far more than bitcoin — the marketcap difference itself is enough proof.

I agree! Gold's market prices activity in, in a very slow and inefficient way. For example, if a country were able to find and mine a market-impactful amount of gold supply, the pricing in wouldn't occur until the additional reserves move from dealers, to institutions. That process can take weeks, months, even years depending how much supply results. The metal will just be speculative if something like what OP outlines, or a scenario similar to what I outlined (at scale) happens. point being - gold marketcap is just speculation. No one can prove that supply. One day, it could 1/100th if enough powerful holders choose to make that happen, or supply increased enough.

[posi]

If you believe that anything is possible, people will accidentally find another large amount of gold in the world, also there is a chance that one day someone can modify and create more bitcoins in the future. Anything is possible, and bitcoin is no exception. Don't try to devise fanciful or unrealistic assumptions to exaggerate bitcoins beyond necessity. Gold is still a scarce and very valuable metal for us, bitcoin is a virtual asset but also brings values and benefits to us. I prefer both and invest in both rather than compare them.

Actually I don't really understand what op is trying to pass out but I know the possibility of this happening might be minimal because it is going to cause some great damage that will lead to lose of lives and infractures making millions of people displaced. We should never think of this in any form because because it is going to be a big disaster to the world create waves that could cause sunami and earth quake that will display so many people and can also cause death rate to increase drastically cause illness and poverty to the world.

But you also don't need to worry, all of that is just human imagination, and with the development of technology like today, there is only one thing that threatens the security of the earth that we will destroy it immediately.

But one thing I see in most recent threads comparing gold to bitcoin is that many people are looking to lower the potential of gold and enhance the potential of bitcoin. I know we're on a bitcoin forum, and bitcoin should take precedence, but giving bogus examples like this really isn't necessary. I believe that even without comparing the two assets, we would all choose bitcoin over gold.

[Maidak]

Obviously most people still value gold far more than bitcoin — the marketcap difference itself is enough proof.

That's right, we shouldn't talk much or just argue about our thoughts without looking at the facts. If bitcoin is indeed better and superior to gold, then why does gold still have a market cap 10 times larger than bitcoin, and more people are still looking for gold than bitcoin? If someone says bitcoin is too young compared to gold, stop arguing and come back to this topic when bitcoin surpasses gold in demand and capitalization.

[BITCOIN4X]

Gold & bitcoin are two rare assets but bitcoin has maximum supply. Different from bitcoin, we never know how much the total gold supply is, where every time a new reserve is found, the amount will increase. After all, everyone must spend some money to own one or both of these assets, but of course both also have their own advantages and disadvantages.

Both of these assets can be treated equally by investors as investment assets, but bitcoin may be more profitable due to its high volatility. In addition, bitcoin can also be detrimental to its holder which is referred to as a risk.

[southerngentuk]

My point is that bitcoin has the same properties as gold in that it is scarce in mining and has the advantage of being easy to carry because it is in digital form. However, it cannot be completely replaced because gold is a secure, graspable, and controllable physical form that does not need any high-tech intervention such as the internet, encryption,... While bitcoin is a form of asset in cyberspace, it is subject to many technical factors and the risk of loss. Therefore, bitcoin or virtual currencies are only a storage option and cannot completely replace the value of gold in the future.

[hatshepsut93]

There's a lot of gold hidden in the ground and in the oceans, or even in asteroids, but it's all very expensive to mine. This means that this gold will be slowly increasing the supply on the market and won't crash the price.

Always remember that the price is a function of supply and demand. Bitcoin total supply is well known, but supply available on the market is unknown. Any day someone can decide to dump hundreds of coins that they were holding for years. It's even worse with demand - it's unclear whether people buy it with intention to hold for years no matter what, or if they are just speculator who want to make quick profit and then wait for a new low to repeat the process.

[AmoreJaz]

There's a lot of gold hidden in the ground and in the oceans, or even in asteroids, but it's all very expensive to mine. This means that this gold will be slowly increasing the supply on the market and won't crash the price.

Always remember that the price is a function of supply and demand. Bitcoin total supply is well known, but supply available on the market is unknown. Any day someone can decide to dump hundreds of coins that they were holding for years. It's even worse with demand - it's unclear whether people buy it with intention to hold for years no matter what, or if they are just speculator who want to make quick profit and then wait for a new low to repeat the process.

and also do take note that not all people are comfortable in dealing with bitcoin. a lot are still on the conservative type. holding tangible assets like gold. so even if we say, btc will be scarcer than gold, still some won't go for btc as they have various reasons not to.
now, the decision depends on how a person is looking at this market. or if you have the means, why not invest in both, especially if you are also a crypto user. both have pros and cons, and you should know how to work around on these cons.

[Mr.right85]

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.

As fictitious as it may seem, it’s something that could be the case. Perhaps, not an asteroid but, some new discovery that lead to other discoveries and the next thing, we’ve got more gold than would have been hoped for in the next thousand years.
When the case is turned to bitcoin, it’s finite value remains that but, if I were to take a perspective from the skeptics point of view, I suppose they would like to oppose the above with a statement like,
‘What if Satoshi Nakamoto just drops in out of the blue’ increases the capped value and add some more changes to the network…

We all making imaginations and assumptions!

[Dr.Bitcoin_Strange]

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.

[minairia3]

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.

And it's all just a hypothesis, an illusion of bitcoin investors, but it's not real. We should be more realistic with what's going on that gold is still a scarce metal, and the demand for it is still much higher than bitcoin. Bitcoin will not be able to surpass gold in terms of demand and market capitalization for the foreseeable future. That's the truth that I'm seeing, I don't see any delusional theory being discussed that will happen and depreciate the value of gold.

[Lucius]

[Fun Fact] Is Gold scarce ? Bitcoin is !

I would call this more "low value topic" considering that on the topic of Bitcoin - Gold there are hundreds of topics and I really do not think that anything useful can be said more. Besides, there is no point in hypothesizing what would happen if a large asteroid hit the earth because then all the gold and all Bitcoin, among other things, would become completely irrelevant and worthless.

According to some estimates, in about fifty years gold mining outside our planet will become profitable. Have you heard of Psyche 16? It's an asteroid that supposedly has $10 000 quadrillion worth of gold in it, if anyone can even imagine that number

GOLDEN IDEA Nasa to visit $10,000quadrillion ‘GOLDEN asteroid’ that could make everyone on Earth a billionaire