Gold has a utility, used in a large swath of electronics. Can always be sold to make something. Bitcoin can only be sold if there is a fiat currency trading in it
Electronics didn't exist for the thousands of years that gold was used as currency. The fact is, it only has most of the value that it does because it was rare, malleable, particularly shiny, and because metallism was simply the easiest way (or at least one of the easiest ways) to invent the concept of currency and a monetary system.
Bitcoin's utility is that you can both hold it in your hands and send it across the world in 10 minutes with no intermediaries. Can't do that with gold.
No, I get it, thank you very much. Early adopter of BTC here, I've read the whitepaper and all that, sodl when I realized what an energy pig it had become.
The only thing that separates BTC from all the derivative shitcoins is hype and stories we tell about it. Bitcoin is itself interchangeable with an infinite number of related algorithms/schemes.
Gold extraction definitely has its problems, but it's a fundamental element of the universe.
In 100 years, I know which one will definitely still hold value.
What is the current supply of gold and what will it be in 2050?