Replying to Avatar brad

This is a common refrain, but I don’t actually understand it. Why would counterparties value gold when what they really need are food, water, and weaponry? How would you divide your gold (bars, coins, etc.) to spend it? How would they verify the authenticity of your gold?

Some Bitcoiners acknowledge that gold would be superior to #Bitcoin in a no-internet, apocalyptic scenario, but I’m not convinced. I think internet would be one of the first things to come back, purely out of desperation. As soon as that happens, game over for gold. But I’m not sure it’s not game over for gold even before that.

Show me if I’m being insufficiently imaginative.
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brad 1y ago

Basically I'm saying that just like #Bitcoin, you need a certain level of infrastructure for gold to be useful, and I'm not sure there's any realistic scenario where we would be stuck in a world with gold infrastructure but not Bitcoin infrastructure for any significant period of time.

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brad 1y ago

Like we don't currently see gold being used as a medium of exchange in non-online, unbanked parts of the world. Store of value, sure, but if that's all, then in an apocalyptic scenario you'll still be stuck waiting for infrastructure to be able to use your gold, same as the Bitcoiners. And regaining internet will be the priority over gold infrastructure.