Regarding Bitcoins and gold, it’s important to keep in mind that neither has “intrinsic” value. Rather, both are valued by men for their unique properties. Go

Regarding Bitcoins and gold, it’s important to keep in mind that neither has “intrinsic” value. Rather, both are valued by men for their unique properties. Gold is: Divisible. Fungible. Value dense. (Scarce.) Recognizable. Durable. Zero counter-party risk. Stable in supply, yet minable. Liquid. International. Non-manipulatable. (Non-centralized.) By comparison: Diamonds, while valuable, are NOT divisible, nor are they fungible. Water, while valuable and divisible, is not value-dense enough to compete with gold as a form of money, on the free market. Food, while valuable, is not durable. Dollars, while liquid, do not represent zero-counter-party-risk (rather, they are debt-based.) Dollars, while recognizable, are not stable in supply (inflation is a worry). Dollars are also not minable. (Production is available only to a monopoly cartel, versus gold, which anyone can produce.) Food, which anyone can produce, is not liquid, especially in comparison to dollars or gold. Dollars, while you can hold them in your pocket, a board of bankers still has the power to reach into your pocket and manipulate its value. (This is not the case with gold.) Soon it becomes very clear that gold was never “declared” to be a form of money by any “authorities” but rather, became money due to natural market forces. If gold became money strictly due to natural market forces (as a result of its unique properties) then clearly the only reason it has been supplanted by dollars is due to artificial restraints imposed on the market by government force. (Such as legal tender “laws”, tax “laws”, money laundering “laws”, etc.) Such forces must be constantly active, otherwise, natural market forces would immediately resolve back to gold again as they have for thousands of years. Now let’s consider Bitcoin’s unique properties: Divisible. Fungible. Value dense. Recognizable. Durable. Zero counter-party risk. Stable in supply, yet minable. Liquid. International. Non-manipulatable. (Non-centralized.) AS WELL AS: Non-confiscatable. Accounts cannot be frozen. Anonymity is possible. Electronically transferrable. As you can see, Bitcoin’s unique properties are similar to those of gold, although it adds new properties due to its ethereal nature. Those new properties (non-confiscatable, non-freezable, pseudonymous, transferrable electronically) all serve to route-around the artificial forces that are currently being used to supplant gold with the dollar. After all, the various immoral, legal-tender legislation in place today uses the force of a gun to impose fiat money onto an economy that would otherwise resolve to gold by natural forces. That artificial force depends on the government’s collusion with banks and their collective monopoly on the ability to issue, store, freeze, confiscate, track, and transfer dollars.