Just watched Mike Maloney explain how he can sell his gold and silver and have dollars in his bank account within a day. Made me wonder why he would do that if the banking sector is frozen, withdrawals restricted, bail-ins ongoing and ATMs blocked.
Once banks are unusable that's literally where bitcoin steps in. You cant effectively conduct commerce with silver coins in the digital age. How are you going to pay your power bills and internet subscriptions? Let alone your software subscriptions etc. Mail in a few silver coins to Microsoft for your Office subscription?
There will come a time where the boomers have protected their wealth with gold and silver but wont be able to partake in commerce, with banks unusable and fiat currencies crumbling the only way to conduct commerce and live will be by using bitcoin. Thats when all those boomers will try to buy bitcoin with their stacks of shiny yellow rocks.
Gold and Silver may be great for immediate protection during a deep financial crisis or inflationary depression, but coming out the other end as the world moves towards a new resilient financial system built on open source global software protocols bitcoin will be far more important to own.
Not only will bitcoin win short term because it is more scarce and more usable as money in the digital age, but it will also win long term for the same reasons. Perhaps Gold ends up relegated to becoming a safe haven from quantum computing attacks against bitcoin.
Gold: Always a potential short term safe haven but never the main means of commerce.