We all know bitcoin's scarcity is far more guaranteed than golds, but this is the subjective part:


Obviously most people still value gold far more than bitcoin — the marketcap difference itself is enough proof.

I hope the asteroid will not hit anyone's head (Haha). First of all i do not believe these types of information which have no solid base, and from what i recall, this news has already shared on this platform and many has already compared the same property of BTC with gold.

The point is, gold is good in its place and BTC is good in its place, If there will be so much gold this will increase the supply and a time will reach where this supply will overtake demand. But we all know that BTC is scare and gold is not, No ones know how much gold is under the earth crust, but we do know that BTC has 21 million supply which will be mined till 2140 at the current hash rate.

There's a lot of gold deep within our planet, the only problem is that we don't have efficient ways of getting it out. When the digging operation exceeds the value of gold mined it's pointless to try.
What would have to happen for us to increase the supply? One of two things.
Either the demand would have to be very high, but for that we'd have to start using much more gold to produce electronics (or go back to using gold coins for payment), that's one, or the cost of deep mining would have to go down so that we could start accessing new deposits.

This is good BTC has a 21M Bitcoin supply but for the Gold asteroid how is it relatable? Is anyone going to grab the gold from that asteroid? I know you are excited about the Bitcoin future but bro about the gold asteroid theory it's just theory and you can't bring that gold to the economic circle so Unless we get that supply the assumed supply of gold will be considered as a dummy.

Gold is currently not scared of the BITCOIN because you can compare it with market capital, yeah yeah I know about future potential but we are in the present so currently Gold is not at all scared. I think most of us have forgotten Ukraine vs Russia's impact on the economic circle so what if WW3 happens I think it will be a nightmare for technology and Bitcoin as well. So enjoy the Journey with Bitcoin in the present.

The force of demand and supply will always affect the price of a product no matter how precious it might be. If the news about large quantity of gold in Africa is true and the right technological tools are used to mine more gold, the price might be affected by the supply. Gold has maintained its position as on the reliable store of value but it's unlimited supply might be it's undoing.

Bitcoin has advantage over gold because if it's limited supply. Nobody know what the future holds but I am predicting that bitcoin will be more valuable than gold. There are.people that who are  gold maximalists they believe that trading and holding in gold is the only means of investing wisely. But Bitcoin has shown a lot of resilience and consistency in its operations. Gold is generally accepted in every country and it is a well-known commodity. In the future Bitcoin will be more valuable than gold because it might have wider acceptance. we can not predict the limit of gold but the limit of bitcoin is known.

I don't think too far like human can harvest gold from asteroids or other planets. Even on Earth, we don't know exact physical gold we have. Scientists can only make estimations but they are not exact numbers and the physical gold human can harvest on Earth will change with technologies we have.

The important fact is we can not know the maximum storage of physical gold on Earth. Estimation can not be compared to the exact number of Bitcoin total supply which is 21 millions.

Gold total supply can increase in future with more advanced technologies for getting gold on Earth and from the space but total available bitcoin will be less than 21 millions in future because more people will lose their bitcoins. This fact makes Bitcoin is a better investment asset than gold.

1.Such asteroid would probably destroy the human civilization.
2.Even if such "golden asteroid" lands safely on the planet, this 700 quintillion USD gold would be enough to destroy the global gold scarcity, ruin the gold price and render gold useless.

Gold is scarce not because it's rare, but because the cost of research and mining is just too high. Gold would be really cheap, if the cost of mining was low and there were gold mines everywhere. I'm sure that there's plenty of gold underground, we just can't mine it in an efficient way.
The same thing partially applies to Bitcoin. Bitcoin is scarce not only because of the 21 million cap, but because mining BTC is difficult and expensive.

It was Michael Saylor who made me aware of the fact that Gold is not as scarce as I would
have previously thought.

Its kind of like the demand drives supply. As demand increases and new technology is
developed new Gold reserves are found and its able to be extracted.

Gold is used in applications such as the Space industry, medical and electronics as well
as decorative.

Bitcoin is deflationary, coins get permanently locked and forgotten through human error and
of course it has a cap of 21,000,000.

Slowly but surely people are and will realise this advantage Bitcoin has.

There's a difference between scarce and maximum supply.

Scarce doesn't mean the supply is fixed, it just need to be hard to get it and has a value.

Something that has a maximum supply is obviously scarce because not everyone can get it as long as they didn't mine or buy it.

So I'd say Gold and Bitcoin are scarce commodities, but there's no evidence Gold has a maximum supply unlike Bitcoin.