The monetary premium of commodity monies is an abstract concept attached to a physical object. That means a purely monetary technology has by definition no physical form, it's fully abstract. Goldbugs can't comprehend this.
Discussion
Well said. Capital value is a property of gold, just like it's a property of anything else. Take away all other properties of capital other than store of value, medium of exchange and unit of account, and it becomes pure capital. Bitcoin is as close as we have gotten, at least so far.