But gold’s value is driven by inflation and the dollar’s loss in value.
100% incorrect.
It IS money.
The others are transitory fiat.
But I see bitcoins value is driven by both the dollars inflation and bitcoins deflation. I think this difference is due to scarcity.
It's a liquidity trap designed by the parasite banker class, to suck up wealth from speculators. (And to help suppress the price of gold).
I also think golds value is external, tied to the dollar...
Incorrect. It IS money - everything else is to to IT, not the other way around.
*there is no such thing as intrinsic value, only subjective value.
All money is - has been forever- tied to real world commodities and services emerging from the trade in those commodities.
BTC is a concept only, and not tied to anything in the real world.
Gold = 5000 years of proven stored value that has weathered ALL fiat currency collapses.
BTC - 15 years of a market with 'free money' sloshing around like no time in history- and no real world, bear markets , OR no tightening of the fiat currency supplies .
Kenneth Galbraith - A Short History of Financial Euphoria:
"Those involved with the speculation are experiencing an increase in wealth – getting rich or being further enriched. No one wishes to believe that this is fortuitous or undeserved; all wish to think that it is the result of their own superior insight or intuition.
As long as they are in, they have a strong pecuniary commitment to belief in the unique personal intelligence that tells them there will be yet more. Accordingly, possession must be associated with some special genius. Speculation buys up, in a very practical way, the intelligence of those involved.
Only after the speculative collapse does the truth emerge.
What was thought to be unusual acuity turns out to be only a fortuitous and unfortunate association with the assets."