Skip to content

Feed

X
XKMato
Aug 30, 2026, 6:40 AM

Ghana has joined the list of African countries are restricting the export of unrefined gold.
Very soon we're going to discover that, like diamonds, there was never anything inherently valuable about gold.

It that makes up what's valuable chooses that which whose scarcity it can control.

As long as it doesn't own an important part of the gold value chain, it will abandon gold, take its value and slap it on something else whose scarcity it can control. Most likely compute.

Oddly, there is a transparent mechanism by which we can all openly agree on value. The mechanism is heavily dependent on compute but I'd still sell all the gold in the world and buy Bitcoin.