There are many reasons gold has become a valuable currency: it has a distinctive density, a distinctive color, it doesn't oxidize easily, it's not radioactive o

There are many reasons gold has become a valuable currency: it has a distinctive density, a distinctive color, it doesn't oxidize easily, it's not radioactive or toxic, and it's relatively rare (compared to, for example, iron). Its scarcity and distinctiveness, together with its aesthetic appeal, have made it a natural choice as a currency. See, for example, http://www.bbc.com/news/magazine-25255957 http://www.bbc.com/news/magazine-25255957. Bitcoin has none of these properties ,which makes me call it a fiat currency (like the U.S. dollar). The only difference is that the U.S. dollar does have transactional value (and limited storage value).