Gold has no intrinsic value. It was used as the standard before, now it's just a different standard - central banking/money printing. The world economy outgrew gold. But to your point, gold has no intrinsic value. it's just a shiny metal. It was used as a standard before, no reason why that should continue indefinitely.
Well actually it's overvalued due to manipulation and jewelry. If people did not like gold jewelry it would start going down. I guess one of the real usages are in electronics.
I'd actually buy more Bitcoin that gold if I was investing. I'd buy both, but Bitcoin has potential to rise much higher than gold does.
you are probably right but bitcoin is intangible and boom or saturation can occur anytime