Like gold, BTC has scarcity, but unlike gold, it has no intrinsic value. I do, however, value my Bitcoins.
If we end up in a place where world governments have fallen to the point where we no longer trust their money, and have switched back to gold, what industry is going to still be around using gold?
I just don't see this.
If there were a single global universal fiat currency, that might not be the case, but ethereal isn't one.
I think we may see this if bitcoin becomes too popular. I mean, it may be too late by then, but why not try right? Oppressors gotta oppress.
This just means for Gold, you effectively have a Put option for a very small percentage of what it's currently trading at, instead of 0% of what it's trading at.
That said, if it becomes too much of a liability to store (hackers, taxes, transmission) in the future without the growth, then it'll lose confidence. I feel like any problems with security though would only become a reality when it would hit mass appeal.