Sebenza

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Sebenza
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Trying to live free without infringing on the right of others to do the same
'Gold is a better store of value than Bitcoin' Gold does not allow you to transfer value across space and time without the use of third parties. You cannot transport fractions of gold digitally. To do this, you have to create 'paper' gold. In the digital age, this would be gold ETFs and tokenized gold. 'Paper' gold requires multiple third parties and is subject to corruption, manipulation, restrictive practices, and more 'paper' than gold. One could argue that the advent of the digital age (telegraph), lead ultimately to gold's failure as a reserve currency. When you own a claim on gold, you do not know if that is real gold or not and you have to rely on third parties to confirm that the gold exists. When you own actual gold, you also do not know whether that is real or not. You also have to have third parties actually analyze the gold to confirm that it is real. Gold is not provably scarce. Gold is widespread on our planet and on other bodies in space. As the price increases, so the production of gold increases. Every year, new and significant deposits are found. This is likely to continue. Gold production, transport, storage, and protecting gold are energy and carbon intensive. A single 15,000 ton per day surface mine, approx. 6.28 trillion btu/d is used to extract the ore and waste. A further 815 million btu/d is needed to extract the gold. You still have to transport and store the gold. This does not include the environmental damage from the mine, equipment, and byproducts. Gold has industrial uses. Using Gold as a store of value increases the cost of industrial gold and this has unintended consequences for consumers. An example of how damaging this can be is the cost of housing. Houses have been used as a store of value and the consequences are severe and there for everyone to see.