Follow Us @
Energy will be worth more than gold with the help of Bitcoin, says analyst
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.
Willy Woo, an influential analyst with 1.1 million followers on X.com, generated intense debate on the social network. This is because he stated that the energy and Bitcoin could replace gold as the main store of value. Woo highlighted the growing abundance of gold due to technological innovations.
In this sense, he proposes that, with the advancement of technology, energy will become the new monetary standard. And Bitcoin, with its limit of 21 million coins, can serve as a “cash book” to record global energy consumption securely.
When publishing a graph demonstrating the evolution of gold extraction over the last 4 centuries, Woo stated that this historical store of value will be replaced by energy, going against what many believe.
The main argument raised by Woo is that the Gold and silver served as a store of value for hundreds of years due to the difficulty of extracting them from the earth. This difficulty in extraction made gold scarce and the growing demand for gold made it an interesting store of value.
Gold, Bitcoin, Energy and Economy
However, for Woo, with technological advancement, gold has become a less scarce commodity. After all, it became easier to extract it from the earth. As the graph shows, the Gold production rose exponentially from the middle of the last century to the present day. This is due to technological innovations that facilitated the extraction of ore.
With more gold on the market, Woo believes that the ore will lose its appeal as a store of value. Yet, for Woo, fiat currencies, such as the dollar and real, cannot be considered money. This is because, for him, they are a modern invention to solve liquidity crises.
Therefore, humanity will need new “money”, in the sense of a scarce good with growing demand. Woo believes that this The new money of the future will be energy, the only commodity that is scarce and in growing demand. She cites the advancement of technology and the growth of global GDP as the main reasons for the exponential demand for energy.
In this sense, for Woo, the society of the future will make energy exchanges. For Woo, this society in which energy will be a more expensive asset than gold, will need a type of cash book to record all energy consumption, in a safe way.. And Bitcoin can play a fundamental role in this.
Designed to be a scarce asset with a hard cap of 21 million coins, it will soon no longer be necessary to expend energy to mine Bitcoin. With a global presence and blockchain technology, cryptocurrency can serve the purposes imagined by Woo.
Energy will be worth more than gold with the help of Bitcoin, says analyst
Follow TODAYSGIST on Google News and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!
Energy will be worth more than gold with the help of Bitcoin, says analyst
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Energy will be worth more than gold with the help of Bitcoin, says analyst
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
Energy will be worth more than gold with the help of Bitcoin, says analyst
