> I strongly believe bitcoin will be the new gold one day, if it doesn't pan out as a currency. It sounds insane, but I actually believe the Winklevoss twins when they say Elon and SpaceX will be able to mine gold on asteroids within the next 20 years, which would crash the price of gold. Not to mention as everything inevitably moves digital, we need to have a digital store of value.
What is the energy cost to get a refined kilo of gold back to Earth?
Seems to be trending downward... Who knows if it'll be enough.
I was curious if a similar downward trend existed for solar panels...
"In 1956, solar panels cost roughly $300 per watt. By 1975, that figure had dropped to just over $100 a watt. Today, a solar panel can cost as little as $0.50 a watt."
So, that's a factor of 600 to get to present costs. Gold currently costs $56,500 per kg. So, $33,900,000/kg. So, who knows where we could be in 50-70 years. Plenty of time to switch the entire global economy to Bitcoin, I suppose!
What is the energy cost to get a refined kilo of gold back to Earth?