How much gold is left unmined on Earth?

Buffett, the most successful investment tycoon, once said: "If the world's gold were melted together into a square, its side length would only be about 20 meters."

Is there really so little gold in the world and is it so difficult to mine gold just as mine bitcoin with t9 antminer?

How much gold is currently mined worldwide?

Since ancient times, humans have been very familiar with gold. It is one of the earliest metals discovered and used by humans. There are written records of the production and use of gold in ancient Egypt. During the Warring States Period in my country, gold was circulated among the upper classes. Gold has been used by humans to this day. It has a history of more than 7,000 years.

According to the person in charge of a foreign institution that specializes in providing statistics on gold issues for investment, the total amount of gold that has been mined in the world as of 2013 is approximately 171,300 tons, accounting for 77% of the world's recoverable reserves and worth 53 trillion It is about RMB. If converted into volume, it is equivalent to a cube with a side length of about 20.7M.

Some individuals believe that the present total quantity of gold is about 250,000 bunches. Naturally, this is not an exact number. Given that humans extracted gold in the very early days, numerous countries around the world have not disclosed the amount of gold mined. According to the buildings of gold, it is in theory thought that gold found and mined by human beings considering that ancient times exists in every edge of the earth. Nonetheless, there is unlawful gold mining in particular areas of several countries, that makes it harder to approximate the overall quantity of gold.

Global unmined gold quantity:

According to a report by the American Institute of Geography, the gold material on the earth is about one hundred millionth of the earth's mass. A lot of the unmined gold is located in the earth's crust, which can not be mined with present human innovation. Leaving out these, there are still about 54,000 lots of gold that have actually not been mined worldwide. Based upon a yearly output of 3,100 tons, it can be mined for around twenty years. Nonetheless, if human beings discover more exploitable resources, it might take much longer.

Why is gold so unusual?

Because of the high thickness of gold, according to research study by scientific scientists, it was still a molten product when the earth was created, and progressively sank into the depths of the earth. Scientists estimate that the planet's overall gold books are about 4.8 billion loads, most of which are located in the earth's core and mantle. Less than 100 million tons are distributed in the earth's crust. However, according to existing human innovation, just hundreds of thousands of heaps can be extracted.

In addition, scientists have discovered that the Arctic is also a location rich in gold down payments. Nonetheless, humans are currently not able to dominate such a very chilly climate atmosphere in the Arctic. Additionally, in order to protect the planet's setting and ecology, the Arctic is a worldwide banned mining location. Therefore, even if the Arctic is a natural golden goose area, however unreachable.

Points are uncommon and beneficial. The so-called shortage of gold is only based upon the amount that people can mine. In fact, the complete gold reserves on the planet are about 60 trillion loads. Based on the planet's 7 billion population, the average per head can be distributed to virtually 9,000 loads. tons of gold. To put it simply, the amount of gold mined by human beings currently accounts for less than one percent of the complete gold.

So now you know why Bitcoin is the Lord of the Rings.