The problem with bitcoin as a currency or a store of value is simpler than all these comments.
It is not secure.
If I own gold, I own the gold, nobody can take it from me without physical access to it.
If I own bitcoin, I own a transaction on a ledger. I don't own that ledger. The majority miners control the ledger.
A miner who has 50% of hashing power (actually less, when selfish mining) completely owns and controls the ledger. They can erase any transactions they want, block transactions and double spend.
You don't have that with gold, you actually own the gold.
Bitcoin Gold was the same source code and same ledger as bitcoin (no extra words) and it was double spent in exactly that way.
The whole system was designed to make the people who created the fake money a lot of money, it wasn't designed to run forever. They've made their 100s of millions+ and more. Beyond their wildest dreams. It's a simple pyramid scheme designed to run as long as possible.
It is not a currency. It is not a store of value. It is a worthless asset being traded back and forth by people losing money in a less than zero sum game. Less than zero because money is going to miners and exchanges who facilitate the game.
It is not secure.
If I own gold, I own the gold, nobody can take it from me without physical access to it.
If I own bitcoin, I own a transaction on a ledger. I don't own that ledger. The majority miners control the ledger.
A miner who has 50% of hashing power (actually less, when selfish mining) completely owns and controls the ledger. They can erase any transactions they want, block transactions and double spend.
You don't have that with gold, you actually own the gold.
Bitcoin Gold was the same source code and same ledger as bitcoin (no extra words) and it was double spent in exactly that way.
The whole system was designed to make the people who created the fake money a lot of money, it wasn't designed to run forever. They've made their 100s of millions+ and more. Beyond their wildest dreams. It's a simple pyramid scheme designed to run as long as possible.
It is not a currency. It is not a store of value. It is a worthless asset being traded back and forth by people losing money in a less than zero sum game. Less than zero because money is going to miners and exchanges who facilitate the game.