Attempts to create "digital gold" have already been undertaken. You can recall E-gold and E-Bullion (both were provided with gold), or DigiCash. Their goal was to create a centralized digital currency. And they all failed. Bitcoin is the first successful digital currency. Although Bitcoin is not yet a stable custodian of capital. But he does not need to immediately replace the gold, at this point Bitcoin can only supplement it. Stability is practically the only advantage of gold over Bitcoin. But in five to ten years, when the excitement and speculation are settled, and Bitcoin becomes an understandable and habitual financial asset, its price stabilizes. Even now it can be said that Bitcoin's volatility is equal to the volatility of oil. Also Bitcoin is more stable than many assets of the S & P 500 index. At the moment Bitcoin is 5-6 times more volatile than gold, but this gap is gradually decreasing. It can be argued that there are several reasons why Bitcoin, even with its current volatility, is an effective form of digital gold.