Didn't bitcoin already beat gold back in 2013 when the price of bitcoin went to around 1300$, and gold was about 500$ then ? Don't see whats the big point about it beating gold, unless it does so in the long term
Obviously, it couldn't beat gold back then
Since the last time when gold prices had been about 500 dollars were more than a decade ago
Welcome to the subjective theory of value, bro
The cornerstone of this theory is the concept of diminishing marginal utility, which essentially claims that it doesn't matter how much important is water for you in general (even if you can't live without it like without air). What matters is the utility of every additional liter of water in addition to what you already have (hence the word marginal). Since you can't drink more than you need, you don't need much of it either. That's why water is cheap while gold is dear. Basically, because water is by far more abundant than gold, even despite the fact that you can't live without water but could do quite well without gold and likely even better without the latter altogether (you won't bother that it can get stolen or lose value)
