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the evolution of tech is a hard to assess factor. if we look what happend in the last 50-100y alone its not hard to imagine that many technological advancements that are now part of the silver demand evolved that far where they optimized (reduced) the consumption of the good or even use altogether alternative tech approaches.
if prices would rise sharply, industries would be forced to search for alternativ cocepts faster. how fast this progress can go is seen best if we look at pv (photovoltaics industry) where silver per cell decreased from
>500 to 100 milligrams in just 10y of innovation from 2009-2019.
pv now uses around 100m oz per year and is expected to reduce the need for silver to 70-80m till 2030 despite quantitative more panels produced.
silver used for electronics is in fact stagnant since the 70’s but since then consumer electronics skyrocketet is another great example of how tech evolves and the industrial needs doesnt move linear with rising demand/production.
SIMPLY BUY GOLD, FREDDY GOT NONE
