Yeah he pulled that number out of his ass. We haven't mined more than 1/5000th of what is in the Earth's crust.
Discussion
Gold is a shit coin
Nobody knows how much is left to mine or how much was pre mined.
Shit we will probably find some objects in space with more gold then what’s on earth someday
The amount of gold produced is only limited by how much effort is put into digging for it.
Agreed
well no, obviously not. it's limited by how much there is.
to be clear, it's limited by how much can be accessed by digging as gold mining companies are actually able to dig, excluding some giant and unforeseen leap in mining technology.
course the calculation for bitcoin could also be upset by quantum and other technologies, so there's always that x factor.
Can we agree that around 200,000 metric tons of gold have been mined to date? If yes, your assertion is that there remains, in total, around 1 billion metric tons of gold in the earth (everywhere in the earth)? Have I got that right?
To be clear this is gold that is physically possible to extract from everywhere in the earth— but without some sort of star-trek leap in technology not gold that is there by multiplying the accepted ppm all throughout (which would be ridiculously high, like in the hundreds of billions or trillions)
Dude, there's gigantic zones on the earth that we have zero idea about and that are collectively managed by the supposedly "warring" goverenments.
It's naive to name any figure on how much available
We have a petty good idea about how much good can be economically extracted I'd say.
Of course could be upset by some giant leap in mining technology. But the calculation for bitcoin could also be upset by quantum and other technologies, so there's always that x factor there.