[layoric]

Gold has a actual use as a commodity, eg in electronics and other equipment, and derives a minimum value as such. So whilst how gold is used in trading circles might have similarities to BTC, this difference IMO makes them nothing alike.

[JohnJamesRambo]

Bitcoin has a just as relevant, or more so, actual use in buying drugs and frowned upon things on the internet, escaping government restrictions on money, etc.

[LanceH]

Gold has those same uses but at an international level and is generally approved of. The gold may never actually move, but ownership will transfer between countries.

[JohnJamesRambo]

But you have to use a middleman or intermediary. The genius of bitcoin was when Satoshi removed that and solved the double-spending problem in a decentralized way.

>Bitcoin: A Peer-to-Peer Electronic Cash System

[ickelbawd]

Except that bitcoin relies on a whole network of middlemen to prove the validity of that transaction. Without miners you have no transaction.

[mc3]

The quantities used are usually very small though. Gold plated not made of gold. I don't think the use as a commodity drives or explains the price.

[jcranmer]

The primary use of gold, AIUI, is jewelry in India.