NickGiambruno on Nostr: It's not based on price, but percent of overall supply. Bitcoin has a supply of 21 ...
It's not based on price, but percent of overall supply.
Bitcoin has a supply of 21 million.
The World Gold Council estimates there are 6.8 billion ounces of mined gold globally.
1/21,000,000 is roughly equal to 324/6,800,000,000
Each gives you about 0.00000476% of the overall supply.
Published at
2024-03-25 14:20:38Event JSON
{
"id": "69929e93d73ff650579daafefc7ca177a3da1ad3be800a9cdacdfb00702408b2",
"pubkey": "722578bf8663321e6cd7fc41f48b6bae2fcc8466de183311cf7496c2eeae389c",
"created_at": 1711376438,
"kind": 1,
"tags": [
[
"e",
"fa8b6e8d84a87bd13795596bc7b343add191c14a1ba0778a54b3ca3aecf6f712",
"wss://nos.lol/",
"root"
],
[
"e",
"4266a125bcb04ba7a9c37d9e4afaea91c0fd41c3727aa4f206844ba393e5dbfd",
"",
"reply"
],
[
"p",
"722578bf8663321e6cd7fc41f48b6bae2fcc8466de183311cf7496c2eeae389c",
"",
"mention"
],
[
"p",
"24c781937caaf5df1e6a2481fb56d169ab49c40f3e35ae25218c53e957240bd9"
]
],
"content": "It's not based on price, but percent of overall supply. \n\nBitcoin has a supply of 21 million. \n\nThe World Gold Council estimates there are 6.8 billion ounces of mined gold globally.\n\n1/21,000,000 is roughly equal to 324/6,800,000,000\n\nEach gives you about 0.00000476% of the overall supply. ",
"sig": "7cf32ce0ce7f1630a67f4e566228247d1d360b4ac55b89484391ef8c01322a4cd8d13aa9c7b8f7faf9d35e716cadcc46d3218ae02dd8588f6fbe4e9d4e9ebe2e"
}
