If you are speaking to me, then I'd love to hear what I said was false.
This useless statement I had, was towards
@Arashel
As for your question.
Let's agree on few things so we know we understand each other.
On the previuos post, you talking about 2 things.
Investment value(speculation of how much it could be worth in future) and general value(how much majority of people would pay for the same amount right now)
Both these properties you compare with cryptocurrency.
I'm gonna bring in 3 arguments which I think gives most value to given object (and I'm gonna add cash money into this)
Gold:
Used in technology because of good electrical conductivity.
Limited resources (not yet discovered how to create artificial gold, without spending more resources(yes you can create gold, but that ain't cheap, anyway that's another topic))
The psychologial effect, which started long ago where having gold increased your social status.
Cash Money:
Value depends on how much the commodities compare with each other
Value depends on how much we are told it is worth
Used to make fast trades
Crypto Money:
Value depends on total amount of "external value" in circulation (usually cash money).
Idea
Used to make fast trades.
By a first glance, Crypto Money seems to be the most useless. It doesn't do anything new and its dependant on another concept which is also dependant on so many other things.
Gold is the most valued object, however, its main use cases are also completely different, compared to the Money objects.
A brief history of these values:
Gold or similar precious metals/gems were the first "technology/concept" which was used for trading anything (aka not just 1 bag of rice for 4 apples. Instead a 3+ way trade)
For quite a long time it remained the same until it started getting harder and harder to move mountains of metals.
The idea of a money increased, a lightweight version of value, but it required consensus.
So all the people who owned the most metals and commodities agreed on certain value and rest of the population who trusted the richest people were able to get into this cycle.
For trusting the people who created the value they were now able to use lightweight resources for trading
Time moves on, the entire world is connected money is what it is now a value which entire trust relies on the central bank. (for most of the people)
Comes along technological advancements. You can move information through air or through certain metals.
Banks now have a huge paper trail of values and depts and whatnot across the world.
Internet. We have now an option to once again trust the other party directly, hence the Digital Money. (aka crypto)
We couldn't have money before we had things we valued, we couldn't have crypto before we had centralized value and peer to peer connection.
Now we are here, what people decide where to move from here it's their choice.
I will now compare few arguments against each other.
Gold is limited right now and I think it will stay limited for very long time.
Cash Money is unlimited. Depts.
Crypto Money is limited. I know you now go hating on me, just trust me on this. It's limited, you can't go into negative crypto balance, this is not how it's built and it has cap value.
Granted some cryptocurrencies do increase the cap incrementally per time (however still kinda limited)
Gold is not very good to trade something fast nor its accepted nowadays for the common things because it's slow.
You can't also send gold trough air. (unless you are quite close to the place where you want to send the money)
Cash Money is fast, BUT it costs money. Sure you might not see the cost virtually on your bank account, however, it is taken from the taxes you pay to your government.
Nowadays your banks usually collect a certain amount of debt before they make the full transaction to some other bank where the money was sent to, because sending money is actually quite expensive because humans have to spend time on validating them in some sense. Greetings to all the hard working accountants.
Crypto Money is actually a lot faster than Cash Money, but because Banks can issue a loan, they can show money on another account before they validate the transaction.
Given those few of my reasonings I will now answer your questions:
Which would you rather have, if you could only cash your money in 50 years.
Which is more likely to be worth something in 50 years?
I would invest in cryptocurrencies.
Gold may not be worth in the future, because of scientific advancements and finding alternatives to do all the same things what gold does but more cheaply.
Of course crypto has same issues, they constantly improve and new ones come out, leaving old ones to bite the dust.
So in both cases, I lose money.
I will get some money out of gold in 50 years and have no global impact by investing 1 million into it.
I will get no money out from selected cryptos but will have a global impact by investing 1 million into it.