C is the subjective value of the money as a currency.
A is the subjective value of the money as an asset.
The point is when something becomes money the value of C is orders of magnitude greater than the subjective value of A. V approaches C when something is money. The money is almost never consumed as an asset when something is money.
While it is true that for gold A will never be zero, but it can be close.
The value of C is due to it's acceptance. If the governments allowed gold to be used and didn't impose all sorts of transaction costs, I suspect C would skyrocket. But they do. For now. So for now, gold is valued only for A and it's potential C.
With bitcoins it's difficult for them to impose transaction costs. So C is demonstrably huge right now.
I wouldn't be so down on btc if I were you. If central banks and their pawn governments succeed in wiping out crypto currencies gold will still be around.
If they do not succeed in wiping out btc, they may very well give up trying to prevent gold from being money. Central banks have been hedging their bets in buying and stealing gold. If they have most of it, they may well set gold free, maybe even make it fiat currency, and again goldbugs will profit.
I mean what can threaten btc? Gold. Who has gold? Them. (and a few goldbugs) Who has btc? Not them.
I think this works out for goldbugs no matter what. And btc hastens the time where gold is set free.
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