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RE: Hundreds Of Trillions Under The Ocean Floor

in LeoFinance5 months ago

The amount of gold alone that is under the ocean floor is estimated at $150 trillion.

At current prices.

But right now, there’s less than 200,000 tons of above-ground gold. At the current price, that works out to a bit under $10 trillion. But it’s highly valued because of its rarity. Would it be profitable to mine gold from the ocean floor (or asteroids for that matter), if doing so would bring vast quantities of the metal to market, making it much less rare?

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I knew if I read enough comments I wouldn't have to say it myself :D

That is crux of measuring things by market cap.

It's simply not an accurate measurement at all.

To give a relevant example, if Satoshi Nakamoto transferred even a single penny of his premined stake, the Bitcoin network's market cap would flash crash pretty spectacularly. Simply the THREAT of a million tokens being dumped on the market is enough to move mountains. You'd be doing the same thing with underwater gold: dumping supply and vaporizing liquidity.

However, I think it's safe to say that the Ocean is indeed the last undiscovered country of this planet. There's no question that it contains hidden wealth. Semantics about market cap and the numbers given aren't super relevant to the message being disseminated in the OP.

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