> Nobody actually knows.
We could make an educated guess, however. Gold has intrinsic value, which gives it a significant advantage over a tiny arrangement of bits in an ocean of them.
We could make an educated guess, however. Gold has intrinsic value, which gives it a significant advantage over a tiny arrangement of bits in an ocean of them.
Bitcoin has a floor of 0 in theory.
I would also guess that makes gold better as a store of wealth. But given that the price rarely ever approaches that floor means it might not matter. And bitcoin is harder to steal (at least you don't have to pay someone to guard it in a vault), easier to divide and transact and verify ownership. I don't claim to know how it will turn out.
As far as I know, the only way you can buy gold is if you either buy jewelry or are a jeweler to make said jewelry. Otherwise you’re just buying stocks which could theoretically be lost in the digital wind.
Obviously even bare gold would have a markup, but probably not as much as coins.
Yes, in the presence of high tech infrastructure, but otherwise impossible.
Gold coins carry on working no matter what the nazis do to the internet and the chip foundries.
And - it’s not going to help you against the Nazis if you can’t transact it.
As to gold - that misses the point. Of course it can be taken from you.
However unless that happens, you can still transact it. People escaped the Nazis using gold to pay their way.
It's not clear to me that gold is superior in that use case.
But some gold coins might be a lot easier to hide than computers.
> You could still use bitcoin to buy your way to freedom
Only if you can access the network.
That’s the point.
I don’t see why you say there will be a way to get online. We see coups where the internet is taken down quite regularly.
Humans have a nearly unlimited desire for luxury goods and always will, quite predictably. They lust after jewelry accordingly and have for many thousands of years. Nothing about that will change. The aesthetic demand for gold will remain so long as people continue to desire luxury goods.
If you drop the price of gold low enough, people will start rampantly decorating their walls and consumer goods with it. It has potent intrinsic support under the price, as much as anything can. It will remain scarce and desirable.
Ironically we go to huge effort to dig gold out of the ground, purify it, and form it into blocks and coins. Then we dig a new home in the ground, bury the gold in there and put guards outside the door. Someone here pointed out how aliens would be scratching their heads over our behavior if they could see it.
Nobody thinks intrinsic value for gold means that the universe likes wearing shiny gold jewelry and that places a floor under its value.
It's actually 7.5%. Maybe you consider that fringe. How does it compare to bitcoin?