I could say the same, if you think Bitcoin's market cap can get close to gold's, you don't understand Bitcoin yet. Same "argument" as yours.

Except I have already been in your frame of mind. You have never been in mine.

I've been in yours and it's wrong.

You'd be the first person I've come across who understood bitcoin and then un-understood it.

What about Bitcoin do you think I don't understand, be specific.

If it's a claim about Bitcoin that's not self-evident, give some reasoning behind it.

You claim that gold has "fundamental value" and imply that bitcoin doesn't.

If you don't understand why bitcoin has fundamental value, then I'd bet you don't understand why gold has either. If you understand why gold has fundamental value, it's self evident why bitcoin has it too (far, far more in fact).

So what's this fundamental value that I'm not understanding? I think Bitcoin has some limited fundamental value by the way.

Be specific, it seems like you're deliberately vague because you don't have a strong argument. (And I think I know what's the argument.)

I just don't have time unfortunately, it's a large subject.

But if you're genuinely interested in learning why bitcoin is fundamentally much better money than gold or fiat, or in fact anything else then I highly recommend listening to at least the first 9 episodes of this podcast series - one of the most interesting podcasts I've ever heard:

https://www.youtube.com/playlist?list=PL2jAZ0x9H0bQFY6wIbQfn...

In fact make that the first 10 - the tenth is called "The Death of Gold"

If I need to go through 10 podcast episodes to understand why bitcoin is better than gold, that makes me seriously question whether bitcoin is better than gold. Things that are actually better shouldn't need that long of an explanation.

Example: Why is gold better than fiat currency? Because the government can't print more of it, thereby devaluing all the currency you possess. Sure, there's much more detail than that (on both sides), but the basic proposition can be stated in one sentence.

So if you can't say that for crypto, then it does sound like you don't have a very strong argument.

Okay, I'll try.

Why is bitcoin going to suck in all the stored value in the world? Because it's better money than fiat (or gold).

Why is it better money, well to explain that we need to answer the question, "what is money?". And that topic is so broad Robert Breedlove has a 453-epsiode podcast channel discussing the subject.

So please accept the 10 episodes I point you to as a quick summary, carefully selected by myself after 1000's of hours of research into the subject. You're welcome.

If Bitcoin was much better money than fiat, people would use it.

My country's currency is much better money than Bitcoin. I can pay basically everywhere with contactless payments, I did this 5 times today and it couldn't be any simpler. I can send money instantly to anyone in my country for free.

Volatility is minimal because the central bank actively tries to minimize it. Bitcoin or gold don't have this stabilizing mechanism, so they will always have worse volatility (assuming a responsible central bank).

Losses due to inflation are negligible if you have your money in a savings account and use other assets (stocks, bonds, real estate) for long-term saving.

If you want to use Bitcoin for long-term savings, the competitor is not fiat but stocks / bonds / real estate. And I don't see a good argument for Bitcoin. In a sufficiently long time horizon, stocks are guaranteed to outperform Bitcoin given some weak assumptions.

> Volatility is minimal because the central bank actively tries to minimize it. Bitcoin or gold don't have this stabilizing mechanism, so they will always have worse volatility (assuming a responsible central bank).

You've been indoctrinated well. Here's an explanation I made on what the central bank is really doing: https://news.ycombinator.com/item?id=40114857

> In a sufficiently long time horizon, stocks are guaranteed to outperform Bitcoin given some weak assumptions.

In a sufficiently long time horizon, stocks will be priced in bitcoin. Rather than an index fund giving you 7% but with a 7-10% devaluation of your fiat (i.e. net return of -3% to 0%), it will return you 7% with no devaluation of the underlying money (net 7%).

Bitcoin is first proving itself as a store-of-value (fundamental for any money), then once it's growth has reached the point that it is stable enough to be used as a unit of account and medium of exchange, it will be, through demand from the people. Any volatility will be measured against bitcoin, not the other way round.