I would never make fun of someone for choosing bitcoin but it is very early days and choosing cryptocurrency, particularly one specific crypto to put most of your wealth in is a big gamble and is easily lost if you are not careful. Forking bitcoin means you are essentially doubling the supply (even though they are different currencies it is effectively very similar). That reduces value. The fact that gold is needed for industrial purposes gives it value and gold has been valued for various reasons throughout history. You can have a crypto backed by something else (anyone remember e-gold? Not crypto exactly but similar in that it was a digital currency backed by gold...) but you have to trust the entity doing the backing. Personally, I would rather hold my own gold than have something backed by it. That doesn't mean I don't want to have crypto too though. There's something to be said for diversification. It really shouldn't be an argument of one vs. the other but how much of your assets should go where?
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