“The best estimates currently available suggest that around 205,238 tonnes of gold has been mined throughout history, of which around two-thirds has been mined since 1950”
https://www.gold.org/goldhub/data/how-much-gold
China / Japan have the most gold
https://www.gold.org/goldhub/data#central-banks
Still mostly used for Jewelry
Those are great.
Visual Capitalist also has a great series on gold. It's now 10 years since it was published so some of the numbers are off but still lots of intersting info!
They also have a newer post, from 2017.
But even that, from just five years ago. hasn't aged well:
Bitcoin is today $572B, so keeping the 2017 GLD/USD price, because I'm too lazy to look it up, bitcoin's value would equate to 40 of those cubes.
Norway, a rich country, doesn't have gold reserves.
They only kept a few historical coins, and decided to sell everything else because:
Here you can see the world production of gold. It's clearly not scarce at all.
And Aker, a big company in Norway, created Seetee, a company focused 100% in Bitcoin. Here's the Shareholder's letter from the CEO of Seetee, it's a great read, it describes how he personally discovered Bitcoin and how he's trying to learn as much as possible and move towards the future with Bitcoin.
Gold could fall like a rock any day imo due to asteroid mining.
And that's easier than you might think. All the gold mined on earth fits in a cube with 22m sides - any asteroid could easily double the supply. And the mining process would just be stiring an asteroid slowly to fall into the desert.
But it gets even easier than that: Markets are forward pricing. All it takes is Elon tweeting that he wants to do it and markets will price that in.
Gold is just doing what its supposed to do hold its value where as bitcoin is a vessel for bitcoin to traverse both time and space
Well said, comrade