Saturday, May 11, 2019

You Can't Eat Your Cellphone but...

Holy molie!

I was listening to Peter's podcast when he started talking about Bitcoin. He speculated that the average cellphone contains $30 or $40 worth of gold. So I decided to Google the question and quickly learned that the average cellphone actually contains $1.82 worth of gold!

I just threw out one of my old cellphones a while ago. I wish I had used Google first. "There's more gold in a pound of electronics than a pound of gold ore, so it's certainly worth it."

I start to wonder if I should have thrown out my old TVs and computers as well. Should I buy a smelter from Amazon for about CDN$ 659.59 plus FREE Shipping?

Should I have held on to that cellphone? Currently, $1.82 US is worth about $2.43 Canadian. Yeah, it's a pretty big package for storage of a measly $2.43 so when it comes down to it, I ask which would I rather own? A one-ounce Canadian Maple currently worth about $1285 US, or 706 used cellphones weighing about 2,824 ounces? 2,824 Ounces = about 176 pounds. Does anybody buy used cellphones?

Also, there are over 7 billion cellphones in the world today, representing some US $12.74 billion worth of gold. There are more cellphones than there are peoplekinds.

I'm just kicking the can around here but I think I can draw at least one conclusion. Maybe you can't eat your gold, but without it, there can't be any Bitcoin either.

And then there are computers and TVs, and so on.

Oh, and one more thing. When Peter asked the audience how many of them own gold he's right. They should have all raised their hands.