Replying to Avatar Geist

Gold can't go to zero but it can take a serious hair cut (its industrial use case can't support current prices), I think the reality is that will take generations though and it has high potential for upside compared to fiat vehicles in the mean time. I am highly skeptical of gold backed crypto, the neat part about bitcoin is it doesn't require trust; I know its scarce, I know its real, I know its secure. A gold backed crypto would just be someone's SQL database, adding crypto into the mix just obfuscates who the trusted party is, I'd rather deal with someone issuing literal paper or digits against my gold than someone saying its "crypto".
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a source familiar with the matter 2y ago

When you say you know it's real

What do you mean by "real"?

Have you found a deposit of Bitcoinium?

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Geist 2y ago

No, but it would be a hell of a lot more sexy if you could right? It does seem pretty drab that we envision bitcoin mining like some dwarven metropolis extracting bitcoin from earths essence, and then the reality is its a bland silver box making heat.

I mean its real in the sense that I can prove it is a fraction of the total supply of actual bitcoin, I know it is not a forgary someone is trying to dump on me.

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a source familiar with the matter 2y ago

How do you know the total supply of Bitcoin is real?

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Geist 2y ago

The code that every node runs to ensure the correct amount is created during every block (6.25 right now), the total number of blocks between havings (210,000), and the number of havings until the subsidy is done (50 I think). If any block is created attempting to alter this supply schedule it will not be accepted by nodes.