[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.