What makes bitcoin a better (or worse) substitute for gold? This is an important question because bitcoin is constantly being compared to gold.

I will admit my bias is for bitcoin but for purposes of this thread let's be as objective and fair as possible to the gold and silver bugs.
No matter what our bias, if any we should never allow ourselves to become close-minded to other ideas and viewpoints.
Always take into consideration opposing viewpoints with an open mind because that is how bitcoin can become better.

I will start.

An advantage of gold:

Gold is a tangible physical thing and instantly recognized by anyone as something that has value.
There is no need to explain it because even the most poorest and uneducated among us instantly recognize that gold is something that has value. No need to explain it to anyone.
You could say gold has an intrinsic value.

On the other hand many people do not even understand  what bitcoin is or why it has value. It is something that has to be explained.
Even after explaining there will always be those who will never get it even if they are otherwise very intelligent people. For example:  Charlie Munger and  Warren Buffet.


An advantage of bitcoin:

The physical aspect of gold can also be a disadvantage. One of the reasons why I never personally invested in gold is practical. Where would I store it?
If you are accumulating or DCAing into gold over a long period of time then eventually you may end up owning a large amount which then presents you
with the question of how and where to store it.

The other question is how do you know that the gold you have is even real? Is it solid gold or just gold plated or even faked?
I never bought gold myself so I don't know how much of an issue that is in reality but of course anything can be faked, or even just diluted.

A big advantage of bitcoin is its portability. Sending coins or bars of gold through the mail seems inherently slow and risky, though again I don't have any personal experience doing that since I have never owned any gold other than some small items of gold jewelry.

Those are just some of my thoughts to start the thread. For those who own both gold and bitcoin what are your thoughts?