Akshually, gold is created by colliding neutron stars, as best as we're able to tell. Which might as well be God because it is quite outside our ability to smash neutron stars together.
Also akshually, it is possible to create gold in the lab - first time this was done was in 1941, by firing neutrons at Hg to knock off a proton; it's also possible to add a proton to Pt by a similar process. It costs a hell of a lot more to do that than it does to mine it, though, so nuclear physics hasn't quite discovered the philosopher's stone.
Solid argument, by the way. Very difficult to disagree with. The follow-up would be, how do we return to using precious metals, and can this be done in such a fashion as to make debasement very difficult while preserving ease of transaction?
You forgot about Bitcoins halving cycle every 4 years…. Whether or not people believe in Bitcoin, the daily new supply gets cut in half in 2024, 2028 etc. Which means if the demand for it as an asset stays the same, the only thing that can move is the price. Traditionally halving cycles start huge bull runs of 10-20x. Without even wild speculation or any other reasoning, Bitcoin should roughly double in price when the active liquid supply is halved.
If your money doubles approximately every 4 years in the most conservative case - what other asset can compete with that? That’s also assuming no further increase in adoption.
Bitcoin is complicated and does assume too much intelligence of the average person… but steadily doubling peoples wealth will be hard to reason against.
Akshually, gold is created by colliding neutron stars, as best as we're able to tell. Which might as well be God because it is quite outside our ability to smash neutron stars together.
Also akshually, it is possible to create gold in the lab - first time this was done was in 1941, by firing neutrons at Hg to knock off a proton; it's also possible to add a proton to Pt by a similar process. It costs a hell of a lot more to do that than it does to mine it, though, so nuclear physics hasn't quite discovered the philosopher's stone.
Solid argument, by the way. Very difficult to disagree with. The follow-up would be, how do we return to using precious metals, and can this be done in such a fashion as to make debasement very difficult while preserving ease of transaction?
You forgot about Bitcoins halving cycle every 4 years…. Whether or not people believe in Bitcoin, the daily new supply gets cut in half in 2024, 2028 etc. Which means if the demand for it as an asset stays the same, the only thing that can move is the price. Traditionally halving cycles start huge bull runs of 10-20x. Without even wild speculation or any other reasoning, Bitcoin should roughly double in price when the active liquid supply is halved.
If your money doubles approximately every 4 years in the most conservative case - what other asset can compete with that? That’s also assuming no further increase in adoption.
Bitcoin is complicated and does assume too much intelligence of the average person… but steadily doubling peoples wealth will be hard to reason against.