[bawolff]

Nobody knows what anything is going to do for sure, but that doesn't mean we know nothing. Things that go way way up quickly tend not to be stable. Shit can change, but the probability of gold massively changing in value is much less than bitcoin taking a massive swing.

[disruptalot]

Valid point. I wouldn't say large swings is necessarily an indication of failure though. It is expected for Bitcoin to swing wildly because in contrast to gold, it's very accessible and in this age information is quick and erratic.

[alwillis]

Bitcoin is in a price discovery mode, hence the volatility. We’ve never seen an asset being monetized in real-time; certainly nothing that’s gone from $0 to $1 trillion market cap in 12 years.

[bawolff]

Its a failure if you want a stable store of value heged against inflation, which is what gold is. That doesn't make bitcoin a failure in general, just not suitable for the same purpose gold is. Same way stocks are not used for the same thing gold is.

> it's very accessible and in this age information is quick and erratic.

That seems like an untrue statement. Assets like gold are very easy to buy, depending on where you live (and laws against bitcoin) probably much easier than bitcoin which has weird laws restricting it.

[alwillis]

Its a failure if you want a stable store of value heged against inflation, which is what gold is.

That may have been true in the past but not likely to be the case going forward.

Stable is in the eye of the beholder; over the coming years, much of the $10 trillion dollars of the gold market will flow to bitcoin.

Just in general, Bitcoin is kicking gold’s ass:

    $1 Invested in Bitcoin vs Gold over 11.4 years

Bitcoin:$71,133,300.00 | Gold:$1.66

https://charts.woobull.com/bitcoin-vs-gold/

[bawolff]

I dont think you understand what the word stable means. If you are appreciating significant value, its not stable.