Have you tried using gold now? Getting it for spot is difficult, trading it for spot is difficult, verifying it’s authenticity is difficult without expensive equipment, and most of it is just purchased from governments who have spent the last 5000 years fooling people into trading it in for worthless (since the 70s, arguably earlier) coupons.

I used to believe in precious metals as a store of value but they have so many issues, and all of the issues are only going to get worse. You only need to get scammed once to lose faith in it, and if the only trusted sources of precious metals are businesses/governments it’s next to useless for p2p.

The most affordable way to verify gold, an XRF, said this bar was real. What you see in there is tungsten. As the price of gold rises in fiat terms, creating fakes because more cost effective.

Yes, it is great for electronics just too expensive, after bitcoin demonetizes it there will be a mini revolution in computing power because of it

Is gold used right now?

I think it might be, along with silver. There are a lot of people who value cash transactions, for a whole host of reasons. I don't see Bitcoin meeting all of their needs.

So, once fiat is killed by Bitcoin, gold and silver might fill the niche that cash currently occupies.

Bitcoin backed gold silver & copper coins. Now there's a fun thought.

No, more and more commerce is conducted over the internet. Gold bars were a pain to use centuries ago - how exactly do you think they will be used in the future - to pay for API access, to stream value for value, to buy video games and music? Gold has a large monetary premium and its supply increases every year with no practical upper bound. If the price rises more, more gold mines become economically viable increasing the supply faster. Gold used to be the densest metal available, but now tungsten is cheap and widely available, making fakes that are harder to detect. Gold's time has clearly passed - it will be relegated to the same role as silver, platinum, etc.

Yes, but it will only be one person: Peter Schiff.

I think so, even if it's just a few boomers it will still exist and thats okay, bc the problem is fiat not gold

No. Or at least not more than it is used now. Use in jewelry or electronics might stay the same.

No. Bitcoin is technologically superior to Gold. It will suck the monetary premium out of it over time. Gold will fall to its utility value.

Not as money.The trusted 3rd party and auditability problems with gold are unsolvable. Bitcoin has neither of these issues. Gold will finally realize it's true potential as jewelry and in electronics.

Check this recent episode of Blue Collar Bitcoin with Luke Gromen, where he makes the case for the potential use of gold alongside with Bitcoin from a macro point of view:

I think the world will go back to precious metals as currency backers.

I actually think wouldn't be surprised if they using gold as a component of whatever new world reserve currency they try to design.

Play the long game. We win in the end but it's going to be a long, challenging road.

shiny rocks will be used only to make the bitcoin devices electronics...

I'd say most likely.

I saw recently that world internet adoption is only 60-70%. That means we aren't there yet. Gold (although inferior to BTC) won't just go away with around 5k year network effect. Also its tied up in culture & religion so it might take a while.

If it takes 100 years to get hyperbitcoinization then maybe gold will go back to being a legacy jewelry.

How would you pay in mountains where there is no electricity and no internet? I believe that there is always some need for physical form of money.

No.

Gold is used in industrial and electronics products. And gold mining has no limit- which means it’s stock to flow ratio will continue to get weaker over time and its monetary Premium will eventually evaporate completely

Bitcoin don't need elements to survive, it is in its own element ~ Hope it makes sense

No, lol

Yes, gold has been used for millennia, and unless something unthinkable happens, it will continue to be used.

Yes

Gold will be around for ages

i could see this at least on a transitional level, as fiat collapses.

especially if the bitcoin network is attacked by CBDC-entrenched entities, gold is a good fallback during the messy phase of the transition.