It is a category error to equate cultural properties with physical properties. Gold is universally scarce, durable beyond our imagination, and perfectly fungibl

It is a category error to equate cultural properties with physical properties. Gold is universally scarce, durable beyond our imagination, and perfectly fungible. While there are other elements with comparable physical properties, cultural artifacts like Bitcoin can never qualify. The guarantees of Bitcoin rely on technology (algorithms, Internet-connectivity) and society (self-interest). If any of those things fail (say a broken hash, a network partition, or just disinterest) Bitcoin can't fulfill its promises anymore. But one can believe in them holding for a little while longer. If others do the same, it keeps going.