[brg444]

I suggest you return to your economic and history books. Gold has no intrinsic value as you would probably call it. It is only because of some VERY distinctive properties that are not found in other metals that gold was ultimately selected as the better store of value available. Its only value comes from a market agreement.

Bitcoin is essentially the same as it replicates the same properties of gold while having a more predictable supply and features that allow it to be used more commonly as a currency, unlike gold.

[freedom123]

Gold has intrinsic value because 1: Its rare 2: Its tangible 3: People want it. Look at history and you will see gold wrapped around everyone's neck and fingers. As mentioned before, a currency has to be back by something. Bitcoin is backed by nothing - nothing cannot be something - no matter how much you exclaim - that is the risk of investing any time with Bitcoin. Just because you like the utility of of bitcoin almost has nothing to do with it being a currency. Example - You can have 50 coins of solid gold or 50 zeros on a computer.

[XorNot]

Also, unlike Bitcoin, gold remains gold without the need for a constant supply of electricity or technology. It's an element, and part of the reason it worked as a store of value was because "ooh shiny" and zero upkeep.