When people say that gold has intrinsic value that BTC doesn’t.
In 2024, industrial gold consumption was about 330t. About 90% of this was recycled from scrap, at a cost of only tens of dollars per oz, so only about 33t of new gold was needed. In 2024, mine production was about 3,700t, meaning that less than 1% of this was needed for industry. All above-ground gold currently used for value-storage (jewelry, bars, coins) amounts to about 184,000t. If suddenly gold was no longer wanted for jewelry, bars and coins, and global supply was redirected to industrial needs not met by recycling, we would have a 5,600 year supply available at current consumption rates without needing to dig any more out of the ground, at a tiny fraction of the current price.
When people say that gold has intrinsic value that BTC doesn’t.
In 2024, industrial gold consumption was about 330t. About 90% of this was recycled from scrap, at a cost of only tens of dollars per oz, so only about 33t of new gold was needed. In 2024, mine production was about 3,700t, meaning that less than 1% of this was needed for industry. All above-ground gold currently used for value-storage (jewelry, bars, coins) amounts to about 184,000t. If suddenly gold was no longer wanted for jewelry, bars and coins, and global supply was redirected to industrial needs not met by recycling, we would have a 5,600 year supply available at current consumption rates without needing to dig any more out of the ground, at a tiny fraction of the current price.
Private channels are only accessible to subscribers and don’t appear in public searches. To join a private channel, you need to receive a link from the owner (administrator). A private channel is an excellent solution for companies and teams. You can also use this type of channel to write down personal notes, reflections, etc. By the way, you can make your private channel public at any moment. Each account can create up to 10 public channels Telegram message that reads: "Bear Market Screaming Therapy Group. You are only allowed to send screaming voice notes. Everything else = BAN. Text pics, videos, stickers, gif = BAN. Anything other than screaming = BAN. You think you are smart = BAN. It’s easy to create a Telegram channel via desktop app or mobile app (for Android and iOS): The channel also called on people to turn out for illegal assemblies and listed the things that participants should bring along with them, showing prior planning was in the works for riots. The messages also incited people to hurl toxic gas bombs at police and MTR stations, he added.
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