Is there any serious justification for this?
I can see the need for a strategic reserve of oil, or food, or heck, tantalum. But we use those things, and we can foresee circumstances where they might be useful. Someone educate me.
I can see the need for a strategic reserve of oil, or food, or heck, tantalum. But we use those things, and we can foresee circumstances where they might be useful. Someone educate me.
It's optimised for storing large amounts of value for long periods of time. Nothing else has the fundamentals that come close.
As more and more people/countries realise this, the demand and therefore value will continue to increase. The earlier adopters will have a large advantage over the late adopters.
It's the perfect savings technology for people/companies/nations.
Just as TCP is the digital protocol for the internet, bitcoin is the digital protocol for money. It's quite something.
Citation needed. In particular, Wikipedia says 201,296 tons exist above ground as of 2020. It also says the annual production is 1,480 tons. So, no, the gold above ground absolutely does not double every 3 or 4 decades.
More: Look at the price of gold and the price of bitcoin. Which has been the more stable store of value?
2% annual increase means it doubles every 3.5 decades.
https://www.lbma.org.uk/alchemist/issue-100/gold-production-...
As for the price, here's bitcoin priced in gold: https://imgur.com/a/xFDJ0Wq