I think the only situation when gold outperforms Bitcoin is in a post apocalyptic doomsday scenario, where there is no internet to speak of and electricity is scarce.
However, there is also the gold abundance scenario when we find a method of gold production which floods the market with the metal pushing its price to never before seen in history.
However, those who are counting on Bitcoin becoming even more valuable because of some major breakdown of financial systems in the world, should be careful. Digitization, automation and robotization alongside AI will create enormous efficiencies in the economy in the next decades. This effect may save economies from collapsing and the financial system may survive into the mid 2050’s without any major disruptions, at which point we enter singularity which is where all speculations and estimations go out of the window. We just don’t know what will happen as it’s impossible to imagine like a 17th century scholar wouldn’t be able to imagine the technology Today (think multiple robots on Mars, landers on asteroids, all the world’s knowledge in everyone’s pocket, bitcoin, video conferencing being commonplace, DNA modified organisms beneficial to us, designer drugs, virtually no plagues left to eradicate, etc.)
Probably yeah, but I'm assuming he means it has value because of it's properties and potential industrial applications and not only because it looks pretty. Whereas bitcoin is simply a convenient form of money. The idea of gold being replaced in any form at all is absurd even to the biggest crypto enthusiasts I'm sure. Unless of course we figure a way to turn something as worthless as lead into gold at virtually no cost, or something like that.
I believe in Gold's value, but the industrial applications people talk about are tiny amounts compared to it's current value. If gold was only as valuable as it industrial applications it would not be worth a lot.
You’re being very, very, _very…_ generous.
He literally said:
> Gold has intrinsic value because it is NOT man made.
This is spectacularly stupid. Minerals are only valued by their utility, unless the hand of an artist (human) creates an intrinsic value beyond this. However, to your point, gold will likely continue to be gold and Bitcoin (for its utility) will likely continue to be itself also.