Gold vs Bitcoin Value

the difference is gold has an actual physical usecase so it's hard to compare these assets

The gold actually exists. I have some in my computer and my phone, it can be used for jewelry, decoration, and has thousands of years of provenance to ensure its value is roughly stable.Bitcoin is none of those things, it's a cryptographic exercise in waste, producing nothing of value.That's why.

Gold is a metal made in the burning core of dying stars. It doesn't really care about buyers and economy. We use gold for many purposes other than as a store of value, and that is exactly why it became a store of value. It is useful BESIDES being a store of value. Heck if you don't like gold, buy platinum or some other exotic material. Stores value just as well. Bitcoin is useless besides being a store of value. That makes it a bad store of value.

That's a good counter; but gold does have a minimum value separate from trust in its future value: it can be used for jewelry / metallurgical applications, etc. and it won't rust / oxidize. And gold is a lousy currency: risky, expensive to store, tied to natural resources, etc.; I guess just like BC :-)

Bitcoin is no more speculation than gold. Gold has its price. It is rarely used (I have not seen anyone exchanging value using gold). It cannot be eaten, drunk, lived in, or used as a tool (I guess you can use it as a weapon like a brick). Yes, it is used to make jewelries because it is expensive not because its intrinsic usability or functionalities (there are other metals or plastics that look better and weigh lighter than gold). Yet it is expensive. As a matter of fact, it is harder to use go

Gold actually has intrinsic value. Fiat currency does not.

Gold has value and use aside from as a currency.

As a commodity, gold always had an intrinsic value separate from its value as a currency. So if the authority stamping the coin disappeared, I could always melt down the gold and sell it as a simple commodity.In the case of bitcoins, they do not have a utility outside of their use as a medium of value exchange. You can't really melt them down and use them to make jewelry, build cables or any of the myriad other uses that gold has.

Gold's market value is far above what it would be if it wasn't used as a value store.

You are overestimating the value of gold as a utility.Think about diamonds. They have utility to and they have value as jewelry, they used to be of almost no value as jewelry.It's not impossible that we will be able to create to find another metal that corrosion resistant. The value as a jewelry is exactly like bitcoin. It's speculative.