Bitcoin is flawed in largely the same ways that fiat currencies are flawed, namely that the commodity has no use value demand, and the supply is not subject to market forces.
Granted, gold doesn't have any use value demand either. Its only advantage is that its rare and shiny. You can't eat gold, burn it as fuel, use it for tools, or build shelter with it. The only industrial application of gold is in specialized electronics processes, and even in those, gold has substitutes.
The only difference between gold and fiat currency is that gold has a finite supply, while fiat currency does not.
Granted, gold doesn't have any use value demand either. Its only advantage is that its rare and shiny. You can't eat gold, burn it as fuel, use it for tools, or build shelter with it. The only industrial application of gold is in specialized electronics processes, and even in those, gold has substitutes.
The only difference between gold and fiat currency is that gold has a finite supply, while fiat currency does not.