Some people say gold is better than Bitcoin, while other people say Bitcoin and gold are equally good, and BTC is just the digital version of the physical gold.
This notion is based on the idea that both BTC and gold are capped, but this is not exactly true.
Bitcoin is capped at 21M coin, and there is a finite amount of gold on Earth, yes, that’s correct. However, NASA and other tech firms are exploring mining options for asteroids containing gold.
Most people aren’t cognitively capable of understanding and comprehending the size of celestial bodies, but golden asteroids and infinite gold are basically the same thing.
If mining is conducted on golden asteroids, the amount of gold will be so huge, that we can assume we will never run out of gold or reach a point where demand outpaces the supply.
If space mining happens, gold price will go down significantly.
It will eventually happen, it’s just a matter of time until we have fully re-usable rockets and launching costs are reduced to the point, where constant launches, missions and returning rockets are a profitable business.
Bitcoin solves this, because there are no asteroids containing Bitcoins.
Gold will always be finite… until it isn’t.
Technically, Bitcoin’s 21M supply can be increased, but this requires the approval of nodes and miners, meaning everyone will have to agree to lose profits, meaning it’s never gonna happen.
Gold is irreplaceable part of modern electronics, yet Bitcoin still outperforms gold.
submitted by /u/Amphibious333
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