Quote from: Coinseeker on November 22, 2013, 01:01:21 AM

Gold has survived every type of fiat ever created.

Because gold was still actually ideal money for the times. Non-electronic times. Since humans have developed the need to transact with one-another over extreme distance, gold's tangibility has become a bug. It's the reason why the world has been able to move away from the gold standard; the benefits of transacting over distance actually outweigh the benefits of a fixed supply in our modern world (thusfar...obviously the never-ending debasement is becoming problematic).

But with bitcoin we can have both, for the first time in human history.

Making the "gold has been money for 6000 years" argument fundamentally ignores just how unique the last 100yrs in human history have been. Expect massive disruption to things that have been constants in human culture for thousands of years.

Quote from: wachtwoord on November 22, 2013, 01:05:46 AM

I completely disagree. Bitcoin improves on gold for every property. Bitcoin is an evolution over gold. Cryptocurrencies are an evolution over PMs.

Bingo.

Quote from: Coinseeker on November 22, 2013, 01:10:38 AM

As awesome as Bitcoin is, it still has no intrinsic value.

"Intrinsic value argument" alert!!! This is officially a pet peeve of mine these days...

There's no such thing as "intrinsic". It just means utility; ie, use-value. Saying something has "intrinsic" value is the same as saying something is useful. Well, bitcoin is quite useful as a medium of exchange in our modern electronic times. It has high utility as money for our present way-of-life. It has intrinsic value, if you prefer that word.

Don't get confused just because gold is made of up atoms and bitcoin is made up of code. Look at how each is useful for things in the modern world.