I think it is necessary to include gold and silver in this ranking. Any ranking that compares Bitcoin to money needs to include them. This strengthens the idea that Bitcoin is also an excellent store of value.
While I agree that it's more accurate for bitcoin to be compared to gold, the topic is about comparing bitcoin to other currencies though(obviously gold is not a currency), not necessarily other assets in general.
If Gold isn't a currency then obviously bitcoin can't be called a currency. Gold was once globally accepted as a medium of exchanges, although the fiat scams has overthrown all that, still Gold has value and would be gladly accepted by some individuals just as bitcoin currently is. Bitcoin hasn't be accepted as a currency so why compared it to other globally accepted currency if your sentence is discrediting Gold as a currency.
Gold was a currency back then, but now the most widely used is fiat currency, you can't exchange an oz of gold to get a louis vuitton bag unless the owner agrees to accept it. I guess the point of him is bitcoin in compare to gold in terms of storing a value where we can generally agree. Bitcoin is a currency for some, some uses bitcoin as a medium of exchange especially on the internet while gold just can't. 1 for 1?
How does bitcoin get ranked among world currency when (if I'm not mistaking) the last time I checked it isn't even authorized compared to gold. I'm a little bit confused here.
I also wonder about this too, coz bitcoin wasn't really a global currency, you can't use it globally but in terms of being accepted it's not.
Gold has the advantage that a fool in power cannot make it lose its value overnight, that is shared with Bitcoin. What is not shared with bitcoin, is the self verifying nature, that crypto provides. Even if you went back to gold coins, they can be messed with (tampered). A little dent here or there, it starts physically losing value (weight). In the past gold ingots have been found altered, they need to xray them and even take sample (which can ruin the ingot and needs to be melt/minted again). The physical realm has these disadvantages, oh and its heavy, and it paints you as a giant target for mugging or worse.
If the USD collapses and enters an inflation spiral into doom, people will quickly stop putting btc charts comparing it to the usd. The usd from a couple of decades ago was already more valuable, so the more time that passes the less these charts make sense. How many usd today are needed for 1 usd from 2009?
Indeed you cannot use gold directly, because most merchants can't even verify it, unlike bitcoin. And this verification costs money, which is deducted when you go to a place that would actually exchange your gold. But i think comparing it against its price isn't too bad, unless you know of some other asset whose value is even more stable, maybe one of the other fancier metals?
Technically the title is mentioning "currency" and gold is not one anymore. Its a pure asset.
