-
@ a6dcb481:109b145f
2025-02-12 15:04:01
10 hours of sleep, nice!
If your uncle thinks finding a significant amount of gold from anywhere and dumping it in the market won’t affect the price of gold, he doesn’t understand supply and demand, and you’ll be endlessly arguing a conversation with someone with a closed mind.
Let’s assume “natural gold”, makes no sense but whatever… If you dig a hole in your back yard and find an incredible amount of gold, assume 70FT cubed “nugget”. That’s approximately half the size of all gold in known existence.
If you put that on the market the price of gold will crash because there’s a bunch of new supply. People will continue to find and mine additional gold.
At the end of the day, the market is the ultimate arbiter. So far it has been valuing Bitcoin, even if it’s just code, people are putting a value on it so it’s not “worthless”.