I'm not sure that bitcoin fulfills everything that gold does, but I think silver rather than gold would be the way to go for diversification. Smaller denominations make silver easier to obtain and sell quickly. Sure some people that buy precious metals are conspiracy theorists and doomsday prepper's, but a lot of them also just own metals for diversification.
But I never said that in the first place
I referred to speculation and profiteering as I specifically pointed out in my post. Some folks are claiming that Bitcoin is a good store of value. But that's outright bullshit if you ask me. They just don't know what a store of value basically means. It essentially means that whatever is used as such keeps its value when everything around crashes to dust and burns in flames. Now think how well Bitcoin cuts it as a store of value. Regarding silver, I'm strongly inclined to think that it is not any longer viable as a precious metal (at least, not more than, say, palladium)
Sorry but I don't think it's controversial that bitcoin is not a good store of value. The price of bitcoin is no where near being stable enough for me to hold money
as a store of value. For an investment? Of course! Bitcoin is on the up and up, a great investment if you ask me! However unlike an investment, a store of value is any form of wealth that maintains its value without depreciating, especially in the event of your 'burning in flames' example. Did gold and silver drop in price during the 2008 crash? Sure. Would bitcoin have had it been in existence? Most likely. Therefor, I don't think either one is necessarily "better" at "storing value" than the other, they both have their strengths and weaknesses, but my whole point is
diversification. The main purpose of diversification isn't to make as much money as possible, or else gold and silver of course would be AWFUL decisions compared to bitcoin. If you were referring to an investment - which as I read back I now think you were - I'm sorry that I misunderstood as I too would recommend bitcoin over anything else for investing some money in.