Bitcoin hasn’t repeated Gold’s history, not even a little. Gold was the dominant monetary standard of the world for millennia. Bitcoin hasn’t even managed that on a local level. It certainly had the potential to do it eventually, I’m not so confident it can still. Not Bitcoin-SHA256d at least. Bitcoin can’t compete with Gold over its physics. It can only compete on the merits of removing the need for trusted third parties. And how is this going so far? Not great. You introduce third parties in the equation, Bitcoin becomes rather useless. It’s right there, second sentence of the white paper.

