Because diamonds are a shitcoin that can be easily synthesized, whereas the smartest brains of humanity have spent millennia getting destroyed trying to figure out how to synthesize gold. Perhaps more importantly, diamonds can be destroyed, whereas gold is indestructible. This means diamonds' liquid stockpiles are constantly being consumed, and new production is therefore significant compared to existing stockpiles (low stock-to-flow ratio), whereas gold's indestructibility means new production is always a small fraction (1-2%) of existing stockpiles, which are the accumulated sum of thousands of years of production. So even if you find a way to drastically increase the production of gold, you will add more supply to the existing stockpiles, which means the annual supply growth rate will remain low. As the new method is more widely adopted, the stockpiles keep rising and supply growth rate remains low.
The best way to kill gold is to do what governments have done in the twentieth century. Set up a government monopoly on banking, collect a lot of the gold, give the plebs paper receipts redeemable in gold, stop redeeming them in gold, and ban the plebs from building their own banking system.
Everyone will have a year that makes them feel like a genius. And everyone will have a year that completely humbles them. The longer you are in the game the more you start to realize and respect consistency and compounding growth over gambling and massive wins.
Gold has already corrected nearly as much as it did in 2008.
Yet many are acting as if the selloff has only just begun.
I see an opportunity.
If this is the secular bull market I believe it is, we won’t get many chances to buy after a pullback like this, in my view.
https://t.co/lwEQGPSSHE
🌋 NEW: @Hedera featured in simulated $10M collateral pledges involving JPMorgan, Fidelity, U.S. Bank and Federated Hermes.
Broader U.S./EU initiatives included BlackRock, Goldman Sachs, Citi, BNY, Ripple, Canton and Quant.
hedera-hashgraph:native $XRP $QNT canton-network:native
SaucerSwap development update
Perps contracts are in audit. Shipped this week:
• 1-minute candles on Stocks charts
• Set a Buy target in tokens or USD
• Clearer order limits and quote feedback
• Steadier global search
• Fix for swaps with custom-fee tokens
@IOV_OWL Taurus, used by Deutsche Bank, State Street and many others, offers the full Hedera stack. Banks and regulated financial institutions can custody and stake HBAR, issue native tokens, and deploy smart contracts through their platform
From protocol revenue to SAUCE buybacks.
Here’s where the purchased SAUCE goes:
• 40% xSAUCE staking
• 30% development
• 10% burn
• 20% protocol-owned liquidity and incentive reserve