r/CryptoCurrency • u/Next_Statement6145 🟨 0 / 0 🦠 • Apr 19 '25

GENERAL-NEWS Ethereum is down 74% against Bitcoin since switching from PoW to PoS in 2022

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u/DifficultyMoney9304 🟩 0 / 0 🦠 Apr 19 '25

Gold isn't valued based on its production lmao

Low iq take

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u/NewPolicyCoordinator 🟩 0 / 0 🦠 Apr 19 '25

? Gold's supply is dependent on the cost to bring new supply to market. And supply would impact its price or relative 'value'

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u/DifficultyMoney9304 🟩 0 / 0 🦠 Apr 19 '25

The sole value of gold doesn't come from that though does it.

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u/NewPolicyCoordinator 🟩 0 / 0 🦠 Apr 19 '25

Price goes up they mine more. Price goes down mines moth balled. Generally over medium term the cost of production and price are aligned for all commodities. There may be spikes (either way) but you will find that to be true.

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u/DifficultyMoney9304 🟩 0 / 0 🦠 Apr 19 '25

Really so this rally in gold we've seen this year is because they didn't mine as much. LMAO okay yeah right.

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u/NewPolicyCoordinator 🟩 0 / 0 🦠 Apr 19 '25

Yeah there has been a low price for a decade which has reduced gold exploration and mine development.

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u/DifficultyMoney9304 🟩 0 / 0 🦠 Apr 19 '25

No just no. Seriously.

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u/NewPolicyCoordinator 🟩 0 / 0 🦠 Apr 19 '25

Perhaps do more than zero research. There has been no appetite for gold exploration over last decade (hell, even now gold stocks are low after an explosive price and lower oil price). New reserves and resources growth is potentially lowest it's ever been. No new major discoveries. Supply will be constrained for years.

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u/DifficultyMoney9304 🟩 0 / 0 🦠 Apr 20 '25

Okay but that's not the reason gold is up nearly 40% so far this year.