most of it indicates a lack of serious thought given to what...

most of it indicates a lack of serious thought given to what actually makes gold gold - though I dont mean to insult you in saying that

but your explanation is self contradictory - if you read it back you should see that

if you ever have to say something = something else but for - then it doesnt =

and the thing that has made gold money is most precisely its tangibility - it was the one thing humans with zero trust of each other could always rely on to be highly valued by others over very long time periods, because of that tangibility + rarity, non degrading storable and fungible nature

as a result, crypto is almost precisely not gold

crypto as a store of value is most like fiat. but perhaps more like postage stamps, issued by independent issuers, time and date stamped with record of ownership

to drive the crypto mkt they rely on superficially minded investors buying the space on the bitcoin market leadership and the bitcoin hard stop limiter fooling those who dont understand what makes money money into seeing bitcoin as a gold proxy

they then fall into a false logic that all crypto = all gold, as money

but because all cryptos are not bitcoin - but all cryptos have entirely the same intrinsic value - it is an infinitely dilutable, non tangible and therefore non trustworthy in a long duration monetary sense.

because there is no limit to the amount of new cryptos that can be created - and frankly very little work. people that fall for the energy work argument re cost of crypto mining may as well argue that wooden canoes are money. wooden canoes also take lots of effort to create

i dont disagree with you on adoption

i also think gold or silver backed crypto makes tremendous sense

but its does that precisely because the primary characteristics are almost the opposite of each other - not the same

crypto is a wallet you can trust that will never lose the contents. nothing stops more wallets being made - either by government or by private entrepreneurs

but its intrinsic value is close to zero, because of infinite supply risk

people fail to see that now because its early in the adoption curve - same as they had high trust in USD in the 70s when USD first stopped being gold backed

the fault in that thinking only became obvious over long time periods - as more and more USD were printed. just have a look at the value of 1USD from 1975 vs the value of 1 ounce of gold - expressed in today's USD fiat value

ledger tech has a value. portability has a value. but those arent what make money money.

but crypto buyers will their own ignorance of that - because what they actually want isnt sound money - its fast rates of return in fiat dollars - and the false crypto = gold argument narrative helps drive that fast return

and its all been quite obviously driven by the US investment banks. even superficial review of the market timing should show you that

the bitcoin market was a true diversified non coopted market til 2017

then the banks set up the crypto deriv exchange to take control of the space via derivs - pumped bitcoin from 12-20k to suck in dumb longs

then crushed it for a few years so they could acquire it cheap while retail got exhausted and sold out

and they did that because
a) its a hugely attractive market for them - because they also fund and control new coin issues, and
b) because its a small and 99.9% non real flow market, so easily price manipulated, and
c) because it gave them a way to offramp natural gold/silver monetary buying, so reducing its threat to USD fiat

then crypto pumps while precious metals paper prices were articifically suppressed - then cryptos consolldated, while precious metals surged last march to aug

then cryptos pushed up while paper PMs were pushed down Aug to now

now they are releasing PM paper again - and i expect cryptos will lose much of their relative zip

though i think the actual fiat threat is now existential - so they will probably continue to levitate cryptos to some degree simply to keep offramping money that would otherwise got to PMs

but a key real test for cryptos will be their performance in a higher inflation environment

if they fail to = preious metals performance in a higher inflation evironment, the crypto = gold argument will lose most of its currency