Bitcoin surpasses $50K as major companies jump into crypto

Re:Bitcoin surpasses $50K as major companies jump into crypto by intev on Wednesday February 17, 2021 @01:57AM (#26163507)

> That did happen, in 1940! Gold production fell in half for years. And the gold price subsequently fell.

Can I see evidence of this? Using this[1] paper and this[2] article I can see gold production by no means halved and gold prices did not fall.

[1] https://ies.princeton.edu/pdf/E15.pdf

[2] https://www.thebalance.com/gold-price-history-3305646

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Re:Bitcoin surpasses $50K as major companies jump into crypto by graeme on Wednesday February 17, 2021 @03:57AM (#26164251)

I was going off this chart. Looking more closely, somewhat less than half but close

https://upload.wikimedia.org/wikipedia/commons/thumb/6/6d/Wo...

However, your first source indicates a drop substantially less than half, so perhaps the chart I looked at is not correct?

For the price I was looking at an inflation adjusted chart. In constant dollars the price seems to have stayed the same. Typing this out I now realized this must have been the gold standard and my comment was completely incorrect on this point re: gold. The price fell in real terms as it was pegged.

https://upload.wikimedia.org/wikipedia/commons/thumb/f/ff/Go...

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