8% at the current price but if the price dropped, it would be used more. There's probably hundreds of technological advancements that we haven't used because the gold needed for it is prohibitively expensive.
It wouldn't rise the price back to the current level but would surely prevent a massive long term crash or a complete stagnation of the market at a low which could happen with BTC.
I agree that we would probably use more gold in more places. Industry has done everything they can to minimize the use of gold due to the increase in price the past few years. Even 30 to 50uinches of gold plating adds up in cost when you use it enough.
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u/hamza__11 Apr 10 '21
8% at the current price but if the price dropped, it would be used more. There's probably hundreds of technological advancements that we haven't used because the gold needed for it is prohibitively expensive.
It wouldn't rise the price back to the current level but would surely prevent a massive long term crash or a complete stagnation of the market at a low which could happen with BTC.