That didn't make sense to me, because of the inherent relationship between time and energy. Simplistically, it takes far less time (and energy) to pick up a sizable gold nugget visible in a mountain stream than it does extracting ore and refining that ore
Post by twetch#12490
I think he's speaking of the total gold brought on to the market per unit of time, not per unit of energy. You are right that it takes less of both to pick up a gold nugget vs. operating a gold mine. He claims the same amount is mined year after year.
What the chain says
- Block
- 623 124
- Time
- 2020-02-22T03:47:57Z
- Signer
- 17n1UjYJYSPFscU1rxZH2RX87vYx5BAi7z
- App
- twetch
- Type
- post
- Content type
- text/plain
- Name in tx
- twetch#12490
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
Signed by
17n1UjYJYSPFscU1rxZH2RX87vYx5BAi7z VerifiedReplies (2)
I need to read his work, but that claim simply can't be true. Even if you attribute European inflation after the Spanish brought massive amounts of new world gold to Europe from pre-mined supply, gold rushes in North America also saw disruptive inflation
Agreed.