[mandelken]

Clever analogy. Let me quickly give some background on actual the use of gold as a store of value, besides the obvious point that gold does not rust (decay) and that it is somewhat rare.

As you know, gold is also shiny and has been used for jewelry for thousands of years in many cultures. Some anthropologists have reversed the causality of value and jewelry, arguing that gold is precious _because_ it is used as jewelry. Indeed, in many cultures different types of jewelry [1] were used as a basis for currency (as in unit of accounting).

Therefore, one of the most basic human features, dressing up within a social hierarchy might be at the basis of gold and currency.

I don't see any such use case for cryptocurrencies (yet).

[1] besides pearls, beads, necklaces, it could also be rare make-up material or even feathers. I recommend the work of anthropologist David Graeber in his book Debt: the First 5000 years.

[eli]

It’s also a useful industrial material that is almost certainly in the device you’re using to read this website.

[lasagnaphil]

Also from the book you’ve mentioned: gold was useful as a currency because soldiers often plundered them when raiding villages, and soldiers wanted to sell them in exchange of other things, so gold began to circulate around the regions they’ve conquered.