If you find an oz of gold tomorrow, what is it worth at the local bakery? What can you buy with that oz of gold at the bakery? A bagel? A donut?
The beauty of living in a rural community is that everyone knows just about everyone else. We have enough part time prospectors that you could probably get pretty close to the going spot price.
Have you seen the Greystone commercial with the Mad Max scenario. Some guy with a spiked baseball bat defending his choice to buy bitcoin. In that case I'd rather have gold.
You did not answer the question. You skirted around it. How many oz of gold would it cost you to buy a bagel or a donut?
Does the bakery owner at the shop have a sign on the bagels or donuts that says 1 bagel/1 donut = couple gold flakes? How big are the flakes?
The difference between gold and Bitcoin is that if I am trying to “escape,” they will take my golden rings and teeth but they may not accept my cold wallet. It’s for emergencies, not for everyday barter.
And why would he? He doesn't have a sign for crypto either. He's an old fashioned guy, deals mainly in cash and credit card. But when we hit the Mad Max scenario I can guarantee you gold will have more value than crypto. (Bullets and beans; It helps to also have a gun. guns make the bullets go much faster)