Next Olympics should be held in El Salvador and end to the gold standard; Bitcoin for 1st, Ethereum for 2nd and UniSwap for 3rd place


Yes yes I'm just joking, but the point of this is to highlight scarcity. Did you know that the "gold" medals athletes win nowadays aren't actually real gold?

Due to the scarcity, price and other factors the Olympics of 1912 were the last where the awarded medals were actually pure. All gold medals handed out in the Tokyo Olympics weigh 556 gram, but are only 6 gr gold plated, 550 gram of the medal is in fact silver. Silver and bronze medals are still mostly made out of silver and bronze. So what does this tell you? Scarcity redefines distribution and above all, value. Gold is simply too scarce and high valued today to just hand hundreds of people +500 grams of gold, but it took well over a century to come to this since gold's discovery in 1848. How long ago was it that you had to lay down thousands of Bitcoins just for 1 pizza? How scarce is 1 Bitcoin today? Not many people can go out and just casually pick up a whole Bitcoin now and it only exists for 12 years.

Another factor that adds to the scarcity issue which shouldn't be left out here is that lost gold can be found. Especially since everyone knows the value and recognized it almost instantly upon sight, but lost Bitcoin, is gone forever.

https://www.insideedition.com/man-loses-out-on-225m-in-bitcoin-because-he-cant-remember-his-password-64369

https://bitcoinist.com/bitcoin-whale-mircea-popescu-passes-what-happens-to-his-1b-in-btc/

https://news.bitcoin.com/guy-lost-bitcoin-computer-upgrade/

https://www.cnbc.com/2021/01/15/uk-man-makes-last-ditch-effort-to-recover-lost-bitcoin-hard-drive.html

 

 

 

How do you rate this article?


6

0


Geo-Political & Economical developments
Geo-Political & Economical developments

Things are almost never as they seem. If you sincerely think that world powers would spend their money and resources in order to just "help" citizens from foreign nations, you might want to ask yourself why they've been neglecting and out right murdering their own citizens for decades. What are their true motives for wanting to fund foreign (terror) groups, start global confrontations and wars? I'll let you in on a little secret; It has NOTHING to do with "human rights" nor "democracy".

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.