Gold bugs basically sit around expecting things to collapse or for governments to repeg their currencies to gold. The narrative is always that within a few years they will have some giant price surge. I like gold and gold some, since it has some uses, but overall gold spent the past five decades getting left behind by the world.

What makes bitcoin interesting is that it is both fast and hard, and as an open source network can improve in various ways (either the base layer, or higher layers, or apps attached to it).

When people say bitcoin is a joke, my response is to ask them to show me something that does what bitcoin does better. If I want to hold value for the next several years self-custodially, in something that is unlikely to get diluted, with the capability to bring that value globally in arbitrary size with me of need be (can’t do that with cash or gold), and with minimization of ways that governments could freeze my holdings, what should I use?

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Agreed, although I'm a bit concerned about the trend of "mind reading" AI. I know that such capabilities are limited so far, but a few years down the line it might be possible to scan private keys straight from our brains. We should anticipate that this becomes possible, and design ways of securing bitcoin that are immune to it.

I can’t say I like gold at all. Gold is technically the most abundant mineral in the universe. No one can tell you how much is in circulation, it’s easy to fake, difficult to verify, a challenge to store and transport.

I think in the western world, many would argue an S&P500 index fund held in a vanguard account would do what you said. It’ll generally hold its value, is accessible via a phone call to broker or a computer and password (sell some shares and withdraw cash from an atm anywhere in the world), and you probably won’t get rugged.

Sure it will have fluctuations in value and you could get rugged by the US government and/or broker, but the odds of that seem quite low (maybe as low as the US trying to ban bitcoin).

I personally believe Bitcoin has the best characteristics AND also huge asymmetry which is why I hold it, but just trying to steelman why a boomer would and probably can be satisfied with his ‘diversified’ equity portfolio, at least for the remaining few decades of his life.

I respect you too much to use the fast and hard joke that came to mind, but let it be known, that’s what she said.

Gold bugs outlook on the future is always negative and depressing. I own some gold and silver, but moving to a gold standard is not progress. More like regression.