In 100 years, gold will exist? Bitcoin, maybe, but if not, probably something different and possibly "better," whoever that's defined (security, efficiency, capacity, speed, etc.).
One thing that people like in a commodity is stability, the value of a Bitcoin may be rising but the old rule says: what goes up must come down.
Gold has been valuable for more than 4000 years.
For me a better comparison would be made against diamonds, they are less useful and more artificially priced for consumers. Generally people pay something which tracks/reflects the true value of gold and they can sell gold items for scrap value. Diamonds are sold as an investment but it is a false economy, if anyone ever tries to sell a diamond they quickly find out how artificial retail prices are. Worth reading this article from the 80s to find out more:
http://www.theatlantic.com/magazine/archive/1982/02/have-you...
In 100 years the Gold market will be flooded with asteroid mined precious metals. Besides which, the economy will be so different that who knows what the value of anything relative to anything else will be.
Why would anybody mine gold on asteroids if you would use Bitcoins instead? For technological purposes existing amount of gold is more than enough and it will mostly shift in that area.
If (when) Bitcoin proves to be the world money, who would need to pay for gold storage/verification/transport? In such case gold price will go down and it will be much more used in production processes than today.
I don't know what point you're trying to make here. People will mine Gold on asteroids as a byproduct of mining for everything else. And they will mine Gold because it has value (as jewelry, in industry, etc.) And over time so much Gold will be mined in such a way as to vastly change the value of Gold and transform it as a medium of stored value.
I meant that we already have a lot of gold sitting in the vaults because it's more valuable this way. As a ledger, that is. Only a tiny portion is used for technology and jewelry. In case Bitcoin makes gold too expensive to use as money before mining asteroids gets profitable, you would have plenty of gold for tech purposes already mined and available. If Bitcoin will be as good as some people think, no one will mine gold at all because there is enough of it in the vaults for many decades of use in production.
