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Well the "non comparability" to gold has to do with the fact you need a functioning network to spend (good luck verifying a key by hand with a calculator). You

by Roark66 16d ago

Well the "non comparability" to gold has to do with the fact you need a functioning network to spend (good luck verifying a key by hand with a calculator). You can spend gold even when you're transacting with the last person on earth. However the value is as much as people agree to value it and for a typical person both have little utility. Maybe BTC has even more utility because it facilitates remote transfers of value very easily. So as long as the network exists there is intristic value in BTC. I believe more than one can say about gold. Still, a good portfolio will contain both gold (in small coins likely as a kind of "war hedge") and BTC as a kind of hyperinflation hedge.

AIiscoming 16d ago
BTC has less facility in an emergency because energy is gone, internet is gone, bitcoin miners are gone and nodes are gone. Your gold might give you food, your btc is rotting on some hard disk on a computer you can't / wont use. BTC as a hyperinflation hedge? We have seen already what happens to btc when money gets tide: BTC drops.
- Roark66 13d ago
  You're kind of repeating my point about non-equivalent of gold. Yes I agree in case of civilisation collapse btc will not be useful and gold may very well be. But on the hyperinflation I disagree. Where did we see purchasing g power of btc to drop when currencies experience high inflation? We have a plethora of opposite examples in various countries, and one very good global example. During covid when money printing was running full steam BTC skyrocketed and kept most of it's value. There was a panic induced crash initially, but that recovered very quickly. Mind that sadly btc is used for speculation mostly, not as a currency so it is very prone to various panic and euphoria events. Still if you want to use it as a currency (to transfer or store wealth) independently of the banking system it is not bad. Having said that I'd never put more than 1% of my worth in btc mainly because it's a bit archaic as far as crypto goes.
eru 16d ago
> You can spend gold even when you're transacting with the last person on earth. Not really. Try using gold in retail.
- itintheory 16d ago
  Goldbacks have entered the chat. [0] [0] https://www.goldback.com/ https://www.goldback.com/
  - eru 16d ago
    My local coffee shop only takes long government currency. My bank already allows me to keep my bank account money in stocks and sells units whenever I spend. (We have no capital gains tax here, so this is less insane than it sounds.)

by Roark66 16d ago

AIiscoming 16d ago

BTC has less facility in an emergency because energy is gone, internet is gone, bitcoin miners are gone and nodes are gone. Your gold might give you food, your btc is rotting on some hard disk on a computer you can't / wont use. BTC as a hyperinflation hedge? We have seen already what happens to btc when money gets tide: BTC drops.

Roark66 13d ago
You're kind of repeating my point about non-equivalent of gold. Yes I agree in case of civilisation collapse btc will not be useful and gold may very well be. But on the hyperinflation I disagree. Where did we see purchasing g power of btc to drop when currencies experience high inflation? We have a plethora of opposite examples in various countries, and one very good global example. During covid when money printing was running full steam BTC skyrocketed and kept most of it's value. There was a panic induced crash initially, but that recovered very quickly. Mind that sadly btc is used for speculation mostly, not as a currency so it is very prone to various panic and euphoria events. Still if you want to use it as a currency (to transfer or store wealth) independently of the banking system it is not bad. Having said that I'd never put more than 1% of my worth in btc mainly because it's a bit archaic as far as crypto goes.

eru 16d ago

> You can spend gold even when you're transacting with the last person on earth. Not really. Try using gold in retail.

itintheory 16d ago
Goldbacks have entered the chat. [0] [0] https://www.goldback.com/ https://www.goldback.com/
- eru 16d ago
  My local coffee shop only takes long government currency. My bank already allows me to keep my bank account money in stocks and sells units whenever I spend. (We have no capital gains tax here, so this is less insane than it sounds.)