The potential and value of gold is not determined by its supply but also by the practical applications it brings to the world. Most of the gold supply exists in the form of jewelry, luxury items and that is also considered a form of investment in gold. The remainder is used for national reserves, investment (ETFs) and industrial use. That is why I say that no matter how large the gold supply is, it cannot satisfy mankind's thirst for gold and they will not get bored with gold if they do not find an alternative.
Can Bitcoin be used in jewelry, electronics industry? Bitcoin will never be able to compare to gold in demand.
Can Bitcoin be used in jewelry, electronics industry? Bitcoin will never be able to compare to gold in demand.
Bitcoin can't be used physically because it only exists in the digital realm. Since it's "programmable", you can use BTC on "De-Fi" apps in ways that you've never imagined. You can set up a time-locked contract where funds would be available after a certain time period or when certain conditions are met. Can you do that with Gold? I don't think so. In addition, you can send/receive fractions of a Bitcoin (satoshis) in a borderless manner. No need to carry bulky, heavy bags when transporting (digital transfer) Bitcoin. It's extremely-portable. Gold falls behind in this regard. Not to mention, no one knows the exact amount of Gold in existence (max supply). There could be more than what we know. In the case of Bitcoin, everybody knows there will only be 21m coins in existence (fixed supply).
In many ways, Bitcoin is superior to Gold. The only thing is that you can't use it offline (sort of). At least, when deeming off-chain transactions "final". Maybe developers are working on a solution? It won't be long before Gold becomes history (as it loses investment appeal). See you in "Mars".
