Right I wasn't talking about just gold. Bitcoin is held to a higher standard than actual currencies with regard to how much or little of it is used for purchas

Right I wasn't talking about just gold. Bitcoin is held to a higher standard than actual currencies with regard to how much or little of it is used for purchases, and it is held to a higher standard than precious metals like gold with regard to how much or little of it is not moved at all. The people educated in those asset classes commenting on bitcoin don't seem to notice, the people not-educated in those asset classes commenting on bitcoin aren't familiar with the economics and velocity of any asset class. That contributes to the state of the conversation today. To move this discussion a little further, M0 of any currency would be a similar fraction of a percent as the trading portions of any commodity like gold. With bitcoin, we also have to understand that trading volume on exchanges won't illuminate whether bitcoin is used for buying anything, as that likely would not be a transaction volume reported on exchange, but directly on chain itself and on secondary routing networks like Lightning.