Bitcoin and gold sparked renewed debate in the crypto world, as Samson Mow drew attention to an important difference between the two when it comes to scarcity, stating that Bitcoin has a limit on the number of its units at 21 million, but the natural scarcity of gold might be threatened by new findings in modern science.
Mow pointed out that though the total supply of Bitcoin is fixed at only 21 million units, which is embedded in its code, nothing can ever be turned into BTC, and there is no process by which it is possible to produce more.
This has come on the heels of a breakthrough in gold creation by scientists affiliated with Marathon Fusion, who have found a way to possibly make gold on a large industrial scale.
According to the scientists, in the near future, gold can be created from the mercury used in the construction of fusion power plants. The scientists have indicated that two metric tonnes of gold can be produced per gigawatt every year.
For many years, the value of gold has been associated with its scarcity in addition to the challenges of extracting the precious metal from the earth. Nevertheless, in the event that the new research is applied successfully, gold will now be manufactured instead of mined. Probably, gold will lose the value that has been associated with its scarcity.
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Bitcoin Supply Secured Against Gold
Mow’s statements stirred up the debate between Bitcoin and gold again. Many people in the cryptocurrency world echoed Mow’s opinion and said there’s no scientific discovery or industry advancement that could change Bitcoin’s maximum supply. That’s because while there’s still BTC being mined, it cannot exceed 21 million.
Some contributors to the conversation further pointed out a number of factors that make BTC scarce, but these include the use of mathematics and the global community to ensure that this lack of supply against gold could soon be the case with discoveries in the field of nuclear science.
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