Which Wins In the Battle For Future Currency? Gold or Bitcoin?

It is interesting that we still have a discussion between gold and bitcoin.

However, the future of this showdown is already decided. There isn't much either side can do to change things.

It all depends on how far down our society and technological ability falls. This will decide everything. There isn't much preference in this.

Gold scenario

Population drops to 10% of what it is today. Catastrophe happens that leaves mankind splintered and out of touch. The internet is destroyed. The power grid is destroyed. And this happens before we have alternatives for these.

Basically, between TPTshouldn'tB, natural disasters, and maybe alien invasions, we are sent back to the stone age.

In this place, gold becomes a metal of trade. A monetary metal. Along with lead.

We all go back to living locally, and trading locally. Gold coins are everywhere, and will be convenient for trade.

This is the only future where gold is valued as a monetary metal.

Bitcoin scenario

In any future where we still have internet and electricity, bitcoin will become the means of trade.

Gold just can't compete in a world wide trading network. The ability to send bitcoin anywhere trumps golds ability to be physical.

And that is just the beginning of the list where bitcoin surpasses gold.

• infinitely fractional - this will be really important in the coming depression. Trading can still happen with even a tiny amount of bitcoin in the community.
• provably rare - Gold just starts coming out of the ground… errr, coming out of the walls. There is tons of it out there is secret vaults. Gold will falter as more and more of it is found.
• counterfeit gold is all over the place. Thanks China, for being good at copying, and having no scruples in making fake gold coins.
• no bank needed. Holding onto your wealth is hard. And banks are found to be untrustworthy. Be your own bank.
• Layer 3 apps, like tipping, will become the backbone of a new economy.

The future…

There are things coming that make the fall to stone age living a very small possibility. Although, i am sure that some places around the world will do just that. Be like lost tribes in the jungle. Or maybe living gatherer lives in abandoned cities.

Two pieces of technology we create/discover is local, continuous, non-polluting energy. No need for the grid. And the universal-interwebz. No need for the wired internet.

So, basically as our infrastructure starts to break down, we create inventions that do not require a centralized grid.

Like bitcoin is decentralized, soon too will the electric and internet be decentralized.

And flying cars. When asked, about taxes paying for muh roads, you can reply, where we're going, we don't need roads.

Now, the earth will be changing. Significant and dramatic changes. The shorelines will be remade. The country borders will be remade. Even with all of this, humans will survive and adapt.

Gold will be going up, seemingly like it is coming back as a monetary metal. We may even see gold revalued, to back some currencies.

And then, it is found that there is a LOT more gold than stated. And then, mining of gold becomes MUCH easier, like strain it out of ocean water easy.

Bitcoin gets used more and more. It becomes easier and easier. Then the gold bugs, mostly elderly people, just give up. Bitcoin just is so much better for transactions. Gold becomes more and more inconvenient. And, over time, it is just dropped.

But, also, at this time, electricity will be local and reliable. Internetz will be even better. The "being bombed back to the stone age" will no longer be on the table.

All images in this post are my own original creations.