random morning thought: technological progress in bitcoin mining is security-enhancing rather than unit-dilutive. on the other hand, gold has no difficulty adjustment mechanism or terminal supply cap, so technological progress in gold mining is inherently supply inflationary. think about it for a second from the perspective of exponential growth in technology.
Discussion
$100 in gold weighs less than a $100 bill.
$100 in #bitcoin weights almost nothing
Think about that…
đŸ’¯
It might be driven more by metallurgical or discovery breakthrough than by mining itself, the cost of which is directly tied to the cost of energy (just like Bitcoin).
true, but cheaper energy or better metallurgy (because of new tech) just accelerates extraction. for gold that means more supply hitting the market.