>Gold can be used to fill teeth, to conduct electricity and so forth. Bitcoins can do nothing.
If that's why gold has value, then $1290 an ounce seems quite pricey for fillings!
If that's why gold has value, then $1290 an ounce seems quite pricey for fillings!
You can also go to an electronics store and find audio equipment etc. which uses gold. Too pricey for some, but others buy it.
When price flies away from value, like for subprime mortgages, a reckoning is always coming sooner or later. And collectively, even subprime mortgages have some value. Bitcoins have no value.