Originally Posted by
MaxQ
Sonic,
Gold physically exists. Its value may fluctuate, but you own a chunk of it.
I question it being a true commodity, as I am still not convinced that it has any basis in physical reality.
Gold has value...
1. People like it. The way it feels and looks. This has been the case for literally millennia, all of recorded history, and that probably isn't changing any time soon.
2. In the modern era it also has some legit industrial value as well, along with other precious metals.
Bonus: It's concentrated in a small, portable form factor (mattered more before mechanized transport was a thing). Although you can fit a lot more bitcoin than gold on a USB stick.
In the event of Global Apocalypse, gold would still have value. Maybe not as much value as an equivalent weight 7.62 NATO.