Why Bitcoin Lacks the Staying Power of Gold

In contrast to conventional assets like gold, this section contends that Bitcoin has no revenues, no inherent durability, and no residual value. It is susceptible to collapsing once enthusiasm fades because its value is solely dependent on sustained speculative demand. Bitcoin is path-dependent on ongoing technological and social maintenance, in contrast to gold, which has industrial applications and millennia of existence. It has also failed as a currency because there are no real-world prices denominated in Bitcoin, and it is slower and more expensive than current payment methods. Its "success" ultimately rests not in actual utility but simply in exaggerated assessments.