The most persuasive anti-gold argument I’ve come up with goes like this:

Gold had already failed as money during the gold standard. Had gold worked, there wouldn’t have been a “standard” at all. People would have just used gold instead of bank notes.

Why did gold fail? Gold failed in the age of the telegraph and railroad because it wasn’t transmissible. It was too expensive to send coast-to-coast. Too valuable to spend in small amounts.

Here in the 21st century, the conditions that led to golds failure in the 19th century are even more pronounced. You can’t send gold over the Internet.

#Bitcoin is better than gold in every technical dimension. It is Internet native. Its supply is fixed. There are no asteroids filled with Bitcoin. It settles globally every 10 minutes. You can store any amount on an index card, or in your head if you have to. It cannot be seized. It cannot be censored.

Rock lost to paper 300 years ago. It has zero chance of being money ever again.