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I used to think this too. The only difference between bitcoin and gold is gold has uses aside from being a currency. Gold is however largely only worth what it

• dragonwriter 14y ago
  > I used to think this too. The only difference between bitcoin and gold is gold has uses aside from being a currency. Well, the other big difference -- and one that drives a lot of the interest in physically holding gold against the threat of a general economic collapse -- is that physical gold plausibly could retain some value as a currency in the event of a general economic collapse that disrupts the viability of major social institutions.
  • trhtrsh 14y ago
    why is gold more reliable than BTC? If the USA collapses, bullets may become the new currency. http://en.wikipedia.org/wiki/A_Fistful_of_Paintballs http://en.wikipedia.org/wiki/A_Fistful_of_Paintballs
    • dragonwriter 14y ago
      > why is gold more reliable than BTC? Because in a collapse in which major institutions fail, the gold you have physically on hand will still be on hand, verifiable as gold, and available for exchange, for whatever value it has. BTC, not so much. > If the USA collapses, bullets may become the new currency Sure, bullets may be even better than gold as insurance against a general collapse, but that doesn't stop gold from being better than BTC in that regard.