re: Why is Bitcoin soaring?

quote:

---

Your argument about some ancillary application of gold for electronics doesn’t explain 99% of its history as a store of value. Not an impressive counterpoint.

---

“Store of value” hmmm. Not sure what you’re talking about.

Nonetheless, if you’re so hung up on gold, I’ll point out some very important differences that might help you or maybe not. The only reason for my addressing it is in the relevance of ownership and investment, not so much as a currency.

Gold is real. It is a mined product that is used in real life for products from jewlery to computer parts. In some instances it’s the best product for a particular application. It’s not used as a currency from my experience but I’m sure some do use it. The USD is far more efficient as a currency.
It has real usage and thus, as intrinsic value. There is an efficient market that establishes the price.

Bitcoin, is a digital currency that CAN be used as currency but nothing else.
It has massive competition as a currency including the USD which is very easy to use. It’s had a massive run up and that’s wonderful. I’d recommend that those trading it, be very careful. We saw the crash in nov 2021. It can happen again.