Further, bitcoin has absolutely nothing to say about amount of currency in circulation in a world where credit is used to create currency (i.e. modern world).
I believe the comparison is unfair:
- Gold can't be transfered in under 10 minutes halfway round the planet
- Gold can rather easily be confiscated
- Gold is very hard to subdivide to tiny quantities
- Gold can easily be "faked", especially for tiny amounts.
- Gold's supply is not really finite
- [edit]: carrying 100kg of gold across a border is - to say the least - problematicPlus, in the modern credit-money world, an IOU from a bank worth 1 BTC, IOU worth one ounce of gold and IOU worth $1[1] have precisely same technological properties and limitations.
[1] A.K.A "Money in your bank account"
And when it comes to Buying Bitcoin over gold https://www.buyucoin.com/buy-bitcoin-india this is the apt choice
Deemed unsatisfactory by who? The money printers? The banks? Yes, the people who make money off of lending money, something clearly prohibited in Islam, Judaism, and Christianity.
Clearly people want no part of this anymore, that's why bitcoin and other crytpocurrencies have a significant value proposition for many.