Gold is something that many people are evolutionarily attuned to irrationally desiring. Millennia of gold being the common store of value has an effect that is kind of like seeing the characters in The Treasure of Sierra Madre. It’s like teen strippers or cured pork fat, in that there is a deeply wired reward pathway that fires when you come in contact with it. You know that it’s something that you want. A sack of krugerrands calls to some basic ancient urge in most people in a way that a duffel bag full of banknotes or a balance in a database does not. I know because I have a fair number of them even though they generally give dogshit return longterm versus other assets. I can’t stop myself. There’s a magic to gold. Looking at it, running your fingers through piles of it. Bitcoin has to compete against gold on its merits, which, for most, do not include natural physiological responses honed from countless millennia of evolution governed by the autonomic nervous system and central amygdala.