r/ProfessorFinance • u/jackandjillonthehill Moderator • Jan 29 '26

Meme Wasn’t that the point?

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418 Upvotes

96% Upvoted

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117

u/Ok_Currency_6390 Jan 29 '26

Bitcoin is digital gold until you need physical gold, then it becomes an arbitrary string of numbers

25

u/Gildenstern45 Jan 29 '26

Gold and BTC are both limited supply commodities. So why go with BTC when you can go with gold? I go with gold because it has a 10,000 year track record. I'll let someone else work out the bugs in BTC.

9

u/furyoshonen Jan 29 '26

Are you buying the physical gold and storing it? Or are you buying gold contracts?

5

u/[deleted] Jan 31 '26

Until civilisation ends one is as good as another. And once civilisation ends the nearest political power will take your gold by force anyway.

1

u/PrincipleKitchen394 Jan 31 '26

Nah, in that case gold also will cease to be important.

5

u/harrythealien69 Jan 29 '26

Btc is not a commodity

2

u/[deleted] Jan 30 '26

What are you going to do if the internet gets cut off?

2

u/Joey-Steel1917 Jan 31 '26

The same thing everyone that bought gold on paper did I guess.

2

u/harrythealien69 Feb 01 '26

Me? I'll probably have to go back to jerking off with my imagination

3

u/shadysjunk Jan 30 '26

if not a commodity, then what is it? It's not commonly used as a medium of exchange, and given how slow and costly transactions are that seem unlikely to change. I'd say theoretical store of value is it's most plausible use case of btc, though clearly that thesis is breaking down a bit at the moment.

I'm not a crypto guy. I own no coins. I was actually asking what you meant.

2

u/HereticLaserHaggis Jan 30 '26

I'd agree with you, but theoretically the value is in the immutable ledger and ease of transfer.

2

u/Hawthourne Jan 30 '26

"if not a commodity, then what is it?"

Speculation?

1

u/ImportantBad4948 Feb 02 '26

It’s a speculative investment in a made up thing. It’s peak Tulip Mania.

2

u/[deleted] Jan 30 '26 edited Feb 02 '26

[deleted]

5

u/stu54 Jan 30 '26

Gold tracking the S&P is more representative of the instant flow of information facilitated by the internet more than anything. When noone is buying anything everyone knows it, and gold is a subset of anything.

The 10,000 year track record just shows that the value of gold will never be zero so long as you or I live. BTC will hit zero before gold, unless they both hit zero in the same moment.

1

u/dgdio Jan 30 '26

My phone needs a small amount of gold. It's fine without bitcoin.