Quote from: larry_vw_1955 on August 27, 2022, 01:34:09 AM

Well I don't know about that. Gold is a big business. In every town all over the world there is going to be pawn shops that will buy your gold. they not might not be interested in your bitcoin though.

Gold for some people serves as a status symbol. you can wear it and display it if you have enough money to buy a gold chain. or you can buy a gold bar and admire its beauty. you can't do that with a bitcoin. so no, i don't think people of this age all prefer bitcoin. there will always be gold collectors and people that wear gold as a status symbol. they won't care about btc at all. just how it is.

Gold is often appreciated by mainstream investors due to its tangibility and versatility. You can use Gold for many things in the real world like manufacturing jewelry, using it for semiconductor components, etc. But you can't do that with Bitcoin because it doesn't exist in physical form (even the physical coins you see around are not really Bitcoin, they're just wallets with public/private keypairs on them). Despite this, BTC has value because it's backed by real world resources (energy spent during the mining process). Not only that, but the cryptocurrency itself has a limited supply of 21m coins and there's no central authority behind it. The decentralized and censorship-resistant properties is what has made Bitcoin an extremely-valuable cryptocurrency to this date.

If I'd were to invest into a store of value to help protect myself against inflation, I'd choose both Bitcoin and Gold for complete peace of mind. But not everyone is willing to hold both types of assets/commodities. As long as you don't invest all of your life savings into them, there should be nothing to worry about. Just my opinion