This is written to add fuel to the long debate between goldies and bitcoiners. I just thought to bring it up as an interesting side topic.

Having listened to several talks (debates) covering the topic of elemental gold versus Bitcoin, I feel like I can accurately sum up the argument, though I am certain the "gold bugs" will still be dissatisfied with my explanation. What I see expressed in most arguments often includes a very clear bias, same as other people who mainly deal in gold (PS), who see that buying Bitcoin (as your digital gold) in lieu of physical gold is bad for gold prices, hence bad for their business. Beyond that obvious reason, it is clear that they manifest their ideas of money as being "purely analog" and assign zero (0) long-term financial value to anything that exists being "purely digital," because, in their minds, digital assets don't represent "hard value" like real "physical world" items. They can recognize personal value from digesting music and books digitally for entertainment, but to them, those digitally stored assets can't store any permanent value such as a "physical" commodity like gold.

What most "gold bugs" are completely blind to is that after the Internet boom, human lifestyle (our daily existence and the reliance on continuity in our life) crossed a digital divide and entered a new digital age of man. For example, today's reliance on the digital content on smartphones. It is truly akin to the past reliance on physical commodities like coffee, tobacco, or run which also fueled economies due to human addiction.

Once the advent of Bitcoin arrived, we were literally "given" digital money. Money that is honest. A hard type of honesty. Hardened by physically proven mathematics combined with the science of digital cryptography. The world got Bitcoin as a gift, amazingly enough (Dumb luck for us). It is not a sham or a Ponzi scheme because Satoshi (the creator) disappeared/died before it ever became worth anything for him. (Even if he came back from the dead, he has been gone so long that the Bitcoin network has already become too big. Bitcoin is no longer his to rule.) Most important though, is that people believe that this new digital money is for them, it works for them, and there is no going backwards from here as far as the next generation of humanity will be concerned.

Don't argue with mass belief systems, because the power of belief has fueled all theisms for a very, very long time; and Bitcoin is this rapidly growing "peaceful" belief system driven by providing the promise of financial sovereignty to every person on earth? (laughing) Hah, say excuse me, and get out of the way before you're trampled to death by the incoming mob coming to get their Bitcoin...

When the day comes that we build and use digital robots to do important stuff for us daily, the money the machines will have to spend and receive will all be digital money (duh). Do you want to argue with the owner of the self-driving car that is going to take you to dinner in 20 years that the digital money the car deposits into his bank account at the end of each day will amount to nothing because you think it's "fake" or a sham? C'mon, you are starting to sound delusional about the current reality of digital commerce and its future "real" value statements to humans, who we know, by their very nature, are lazy creatures that would always rather pay to be pampered if given the choice.

Oh, did you hear that? Did I say pay? The transfer of an agreed value between two parties for a service rendered, no matter what "contrived" version of money we agree to use? Yeah. Exactly.

The full network effect is already in play now. Every young person from today forward will grow up knowing (believing) that Bitcoin is the digital money that lives in the cloud accessed through their iPhone. All real-world systems of money are used due to a shared consensus of its users. Whether contrived as analog or digital is just semantics. The semantics have not been relevant since the 1930's. Those old gold guys don't get that the fact that just because gold exists physically, and you can hold it, or touch it and rub it to know it's real; and Bitcoin is untouchable, invisible blockchain money that young people, who grow up learning digital technologies, will accept as their money and believe in its value the same way that every day American’s in the 1950’s still believed in the government's updated version of the "greenback" dollars from the 1800s.

Bitcoin has proven to be the world’s new reliable money technology for the last 15 years. In the long term, Bitcoin will not fail, because the next generation of digital thinkers and digital consumers will continue driving forward in the digital age, not reverting backward to previous centuries’ relics of money. Peter, just admit you own some Bitcoin and join "Team Bitcoin" already ;-) Keep your gold, too, just in case the rest of us are eventually proven to be the idiots you seem to enjoy portraying us to be. Cheers!

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