[p1l0t]

Originally Posted by Spuds

Just a counter point for consideration. Gold is mostly limited by discovering and extracting it, I am 100% sure there is more gold in the Earth somewhere, and even more in just our solar system if we could get to it. Discovery and extraction are limited by the amount of energy we have available and our ability to manipulate it for purpose.

Producing a cryptocurrency unit is essentially discovering it (the solution exists, we just don't know it is there), and 'extracting' it from randomness by marking it. As more of it is discovered and extracted, it takes more and more energy to discover and extract more, just like any valuable material (gold, oil, etc).

The difference is that cryptocurrency, like other currency in general, doesn't have any use other than claiming it represents some value, whereas gold has plenty of practical uses.

Well, yes, asteroid mining could throw precious metals into abundance... but one can only hope.

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