Which Would You Rather Be Holding On Doomsday: Gold Or Bitcoin?

(November 16, 2023 - Rob Nelson)

In times of global crisis, with wars raging and economies on the brink of collapse, the question of a truly reliable currency becomes critical. For many of their largest proponents, the qualities of gold and bitcoin make them both the perfect stores of value for such an event.

And the debate between the tangible longevity of gold and the modern digital resilience of bitcoin is more relevant than ever, as increasing wars, legacy economic turmoil and more seem to be escalating rapidly. During a recent discussion, the question was posed: In a truly apocalyptic scenario, which is superior, bitcoin or gold?

Roundtable anchor Rob Nelson initiated the dialogue by highlighting the potential failure of electronic systems, casting doubt on the accessibility of cryptocurrencies in a truly world-ending event. However, he also questioned the practicality of transporting physical gold in such dire times.

Aaron Arnold, host of "Altcoin Daily," was the first to weigh in, noting that a total electrical shutdown would indeed revert society to a primitive state where traditional banking would collapse. In such extreme conditions, gold could reclaim its ancient status as a medium of exchange. Yet, Arnold contended that unless we face such a stark regression, the trend toward a digital world favors bitcoin. He suggests that even after a temporary blackout, bitcoin's proof of work and transaction history would remain intact, ensuring its survival.

Phillip Patrick, a precious metals expert from Birch Gold Group, concurred that the extent of the apocalypse greatly influences this debate. In a world devoid of electricity, gold's tangible value is undeniable. But he also posited an even grimmer outlook, where the very concept of currency could become irrelevant, replaced by basic survival commodities like food and weapons.

This discussion brings to light the inherent differences between these two stores of value and their potential roles in society's darkest hours. While gold's physicality offers a time-tested sanctuary, bitcoin's digital nature speaks to a more interconnected, resilient future.