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Most of gold's value is attributed to speculation just as bitcoin is. Bitcoin uniquely offers a way to spend money without the government knowing about it. Ransomware, moving money out of China, buying drugs online were all extremely difficult without bitcoin. Of course Bitcoin isn't completely anonymous, but it can be. Buy bitcoin with cash to a new wallet and then send anywhere.

Gold is just the physical version of that. Just like all money is made up, the value of bitcoin and gold are pretty much imaginary.