Quote from: Fat Ronaldo on August 13, 2015, 11:37:05 AM

Quote from: RealBitcoin on August 12, 2015, 03:04:51 PM

Quote from: gentlemand on August 12, 2015, 02:51:27 PM

Quote from: RealBitcoin on August 12, 2015, 02:46:25 PM

Now we got crypocurrency, e-banking, e-money, and such. While fiat money is also in the verge of collapse, i think gold will fall faster eventually.

There might be a case to be made that the more abstract finance becomes, the more important it is that there's something with value that stands completely outside it.

As long as central banks and governments exist there'll be some sort of place for gold even if the public has zero desire. The next few decades will be a pretty surreal ride whatever happens.

Yes but ethereal money has also benefits, that are very attractive let's see:

-Civil forfeiture immune
-Semi-anonymous (your medical purchases, and kinky sex toy purchases are anonymous)
-Ultra fast transfer speed
-Ultra low transfer cost
-Bail-out & Bail-in immune
-Secure
-3rd party risk eliminated (unless you are stupid enough to keep all your btc in an online wallet)
-Opens up now Earning Money Opportunities
-New jobs, and new business opportunities
-Immaterial & easy to carry & no security/storage cost
-CAPITAL & BORDER CONTROL IMMUNE
-CENTRAL BANK MONEY PRINTING SCAM IMMUNE
-NO RACIAL,SEXUAL,RELIGIOUS, OR OTHER DISCRIMINATION HERE

ETC.

Now you see gold is very primitive VS these aspects.

Bitcoin is far superior as a currency in every single aspect and for these exact reasons, though gold has intrinsic value as a precious metal and could - depending how well or bad bitcoin does - hold its value longer. I would still prefer to take the chance with bitcoin though as I think bitcoin will become worth more than gold again in the near future.

Gold has not much intrinsic value , only as jewelry.

Gold as an investment object, has "investment value", which is separate from it's intrinsic value, and its definitely overhyped.

We cannot have an analog currency in a digital age. We could use gold for jewelry and to show off your wealth, but it won't be a mainstream instrument ever.

Even in the middle ages ,most folks used silver coins or some mixed copper coins that offiicially were issued by the kingdom's mint.

It's hard to believe that gold will become mainstream usage, especially as we go more and more digital in our everyday life (smart TV, smart Phone, Internet of things, flying cars, mentally controlled artificial limbs for disabled people?)

Gold will be only an overhyped instrument for gold bugs, and for central banks storage (who obviously dont know anything about the economy, otherwise wouldn't ruin it)

Opportunists already know this. Gold is a sinking ship on the long term.