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.
@nakadai_mon The mistake some people made was thinking solutions are one size fits all.
You need to figure out for yourself what the best setup is. Maybe that's 100% self custody bitcoin, but maybe not.
@Eggplant_Elon His first misunderstanding is thinking one buys bitcoin or gold in the hope that it goes up.
One buys bitcoin knowing the value of all fiat currencies will go down.
This financial expert does not understand what money is.
I am writing from FPC Morgantown prison in West Virginia. It has been about 5 months since I first surrendered myself in December, and I will be honest, the prospect of a Presidential pardon is very low. There was some hope during the Bitcoin 2026 conference, but that has now come and gone, and one must come to terms with the fact that I am simply a federal prisoner without money, power, or influence, and I will serve my full sentence. It will be years before I can even attempt to rebuild my life. Which is why I am now writing this appeal to you all now. Things are dire and we need your help.
Lauren and I need your help desperately. More than ever before. We have over $2 Million of debt due to legal fees. We have a $250k fine the judge levied against us. Every day I get letters and calls from anxious lawyers looking to be paid. Or the DOJ demanding I start making payments on my fine. Perhaps it was denial or delusion, but I had hoped to do what I have always done and dig myself out of this hole myself - but with the reality of serving a full sentence that is not possible. I hate to ask for your help in this way but we are entirely out of options. We need to pay off these legal bills and other debts accrued attempting to defend myself. We desperately need your help. Now.
For 10 years Bill and I built and published open source code and tools for Bitcoin users. Those same tools and code are what the government says were criminal. The tools and code still exist, they are out there right now and always will be. The creators however are locked away in Federal prison. The creators are the ones whose lives have been decimated. The creators are the ones who have been financially wiped out. The creators are the ones who desperately need you now. Please donate whatever you can to bc1qtjjcvn98wh7dfd55m8kxhjcfexanttwt8gtan8 . We have to get this albatross from around our neck.
Samourai had well over 100,000 users. These users pushed over 2 billion dollars through our open source tools. We need those users and any bitcoiner who appreciates the work that we put into this industry for over a decade to help us now. Please donate whatever you can to bc1qtjjcvn98wh7dfd55m8kxhjcfexanttwt8gtan8 right now.
If you require a private address please DM my wife @leamuirleyn and she will provide one. Please do not delay. Time is of the essence. Please help us.
- Keonne
@PeterMcCormack@ZackPolanski@ZoeJardiniere Peter, is your post directed at Zack, or his audience?
Because, if it’s for his audience, then fair. But if it’s for Zach, do you honestly think maths matters to a man who believe he can hypnotise a woman’s breasts larger?
@arcbtc@PeterMcCormack@Matthew77808399 It’s cronyism. Business can be blamed, but why have government if its laws are ineffective. How do you make it easier for local and harder for global if government can’t compete?
At the end of the day, the buck stops with the government as it makes the laws.
@arcbtc@PeterMcCormack@Matthew77808399 This isn’t the fault of the corps, though. The largest cost to any business is tax and it’s in the business owners interest to reduce this by as much as possible. The government is solely to blame for allowing corps to get away with what you described.